Medicare remains a good deal for most seniors. Despite a record 17.5 percent increase in premiums announced Sept. 3 by the Bush administration, monthly Medicare costs are a bargain compared to what many people must pay for private health insurance.

What’s more troubling is the Medicare cost trend line. In the past five years, Medicare premiums have increased by more than 60 percent. Just this year and last year, the premiums have gone up more than 30 percent. The government has not been able to restrain costs, instead adding to them with a poorly designed prescription drug benefit and an HMO-benefiting privatization scheme. The problem is only going to get worse as the looming baby-boomer retirement begins.

The new premium will be about $78 a month next year. For seniors who can’t afford it, Medicaid will cover part or all of the costs. That’s not bad for comprehensive coverage. But for seniors, many of whom live on a fixed income, it’s the specter of rate increases to come that is troubling. Double-digit increases are unsustainable.

That leaves three choices: reduced benefits, even-higher premiums or higher taxes.

Medicare’s financial instability is also on a collision course with Social Security and the country’s huge deficit and projected national debt. According to the Congressional Budget Office, the deficit for this year is $422 billion and the national debt could balloon to almost $5 trillion during the next 10 years.

The Bush administration has put today’s policies on the country’s credit card. We will be paying for tax cuts, war and unsound government spending for years to come. The Medicare premium increase demonstrates a failure to hold the line on costs. More troubles are on the way.