By Julian Pecquet - 05/05/11 03:01 PM EDT
A 54-year-old today would have to save an extra $182,000 to pay for healthcare costs until the age of 84 under the GOP's Medicare proposal, says a new report from the liberal Center for Economic and Policy Research.
The center authored its study at the behest of House Education and Workforce ranking member George Miller (D-Calif.), and extrapolates data from a Congressional Budget Office analysis that found that replacing Medicare with subsidies for private insurance would lead to higher costs for seniors.
"Under the Republican plan, seniors will go into debt. They will be forced to sell their homes that they spent a lifetime paying off. And they will have to rely on their children just to pay for basic medical care," Miller said in a statement. "This is not what anyone would envision as a dignified retirement."