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Of course he should, and socialized healthcare provided him great healthcare until he died.
Its an unfunded liability just like healthcare in general is. Healthcare costs are skyrocketing for private sector providers as well.
He was wrong on every doom and gloom claim he made about it nearly 50 years ago. The fact that the economics of healthcare in the United States are broken today, and that effects Medicare just like it does every private insurer has nothing to do with the claims Reagan made.
First off, I am pretty sure that Reagan had his own doctor after leaving the Presidency, and not the standard Medicare conveyor.
Second, you are correct that health care costs are out of control however I don't think the answer is to socialize the entire system, and do away with private health care.
Lastly, You are wrong that private insurance is taking the same hit as Medicare though, in reality private insurers last year I believe made something like a 2% profit. Not huge I agree, but still I believe Medicare is still hemorrhaging money, and running a deficit.
j-mac