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In health care today, we spend most of the dollars - in terms of treating disease - in the last two years of a person's life.

When Medicare was created for senior citizens and America 's disabled in 1965, about half of a senior's health care spending was on doctors and the other half on hospitals.

Retirees who are on Medicare will suffer the consequences of 700 billions of Medicare dollars instead being used to cover the skyrocketing cost of Obamacare. In essence, less dollars for seniors means less service. Not fair. The Boomers are going to take the 'hit.' In Obamacare, 'too old' has limitations of service.

We all understand that we are living longer, and we are more likely to spend more years as frail, elderly people who can't work. We also recognize that the wonderful advances in medicine also come with wonderful price tags. Those are things you can't budget around.

I suspect if people live a lot longer they would be retired for a somewhat longer period of time. Just the financial planning takes on a very different character.

Long lives aren't natural. We forget that senior citizens are as much an invention as toasters or penicillin.

Modern medicine has presented us with a Faustian bargain: Our aging bodies can bankrupt our children and grandchildren. We have run into the 'law of diminishing returns' in health care, where we are often doing more and more, with higher and higher technology, at more and more cost, for less and less benefit.

Today, Medicare provides health insurance to about 40 million seniors and disabled individuals each year. The number is only expected to grow as the baby boomers begin retiring.