Medicare revenue and expenditures are part of "total" budget just as Social Security revenue and expenditures are part of "total" budget.

Unless you're a very low tax conservative(something I'm beginning to suspect) then you must understand that tax increases are necessary.  It's the only responsible course.

Medicare alone (or for that matter Social Security) can't and shouldn't be singled out as the sole cause of budget problems. Maintaining over 700 foreign military installations is akin to flushing tax money down the toilet not to mention the utter waste of treasure fighting pointless wars. Importing some military hardware components (thanks G H W Bush) is another useless squandering of treasure, flushing money down the toilet. The fact is that both Social Security and Medicare generate significant economic activity which generate tax revenue.

Cutting Social Security would not only incease old age poverty it would also present families of the elderly with increased financial burden. Ditching Medicare is akin to a kill 'em early program, something out of Logan's Run and again a burden on families. Serious economic problems can be averted by insuring that Social Security and Medicare are retained intact.

Beyond that here's something that many of today's technocratic types just don't get.  Programs like Social Security and Medicare are a social compact between generations that are a vital ingredient of the social fabric.  Tear it, destroy it at great risk to the nation.

It's a symptom of our continuing decline that so many younger people lack the intellect and foresight to understand that they too will grow old.  I see that in your comments.

HCR is a vital ingredient in reigning in medical costs but the HCR as proposed (both House and Senate) will do little or nothing to contain costs and one of its provisions (both houses)could very well hamper the economy.

Of course, after his two terms as POTUS, and despite the impeachment fiasco, the American people gave him the highest approval rating of any POTUS ....... ever.

A lot of it depends on innovation in what fields.

You may be referring to innovation in computer technology.  The problem is that once this generation is gone so will innovation in computer technology.  The stuff is now built overseas and even software development is drifting overseas.

But even innovation emerging from science would be short lived and would, economically, directly benefit a only a small number of people.  

That happened long ago in Germany and Japan, more recently in South Korea, and is in process in China and India....

We can sell so many things to the Chinese--we are still the movie capital.  American culture sells--and we have done well with software....

If transportation costs become prohibitive than it might be better for companies to manufacture goods nearer to their destination.

We actually saw a little shift back here when gas prices were over $4.00 a gallon - mostly from European manufacturers who were also taking considering the cheaper dollar.