The latest report issued by the Medicare Board of Trustees stated that the program will become insolvent by 2019.  Last year’s report also set in to motion the 45% cost trigger warning which forces the President and Congress to address the issue sometime this year.

When Congress created a universal prescription drug benefit with the Medicare Modernization Act of 2003 (MMA)–adding an estimated $8 trillion to the program’s long-term unfunded liability–it enacted a “cost containment” mechanism designed to control excessive general revenue funding for Medicare.

That amount becomes “excessive” when it funds more than 45 percent of the total Medicare outlays. The “trigger” for presidential and congressional action is when two consecutive Medicare trustees’ reports project that the “excessive” threshold will be met within seven years. 

The Medicare program was initially to be funded through the use of payroll taxes but the explosive growth of healthcare costs has far outstripped it’s ability to fund the program.  Most of the attention lately has been given to Social Security but in contrast that program isn’t expected to become insolvent until 2041.

The program’s growing financial woes has been accumulating for years and the cost trigger warning does little in of itself to address the long term unfunded liabilities, as it only concerns the 45% general revenue funding level.  To deal with the program’s liabilities, the government can either raise taxes, cut benefits or lower healthcare costs.

Obviously controlling healthcare costs would be the best possible solution, but seeing as no one in the government has figured out how to do that yet, that only leaves the two unpalatable options.  What ever they do decide to do, they need to do it quickly because time is running out.

Well, perhaps you wouldn’t want to exactly switch over some of the above mentioned classics into electric vehicles… but you could!

While plug-in electric vehicles are not much of a revelation these days, many people are detracted from them by their high cost and relatively few manufacturers who are making the conversions. While the newer and improved batteries are still reserved for certain newer hybrids currently in production or soon to be, there are still plenty of conversions using older technology. These are still plenty effective in saving you money, as well as the planet.

While electric cars have not gone into mainstream production as such, entrepreneurs and hobbyists have been perfecting kits for electric conversions and you might be surprised at the number of converted electrics you have driving around in your area that you would have never guessed.

These kits range from $5,000 on up to $15,000 for a full conversion, but if you are talking about using one on a 1984 V6 Camaro, you would be well below the cost of buying a brand new Hybrid from scratch. Try as much as $25,000 below is many cases.

Basically how it works is the gasoline engine and drivetrain are pulled from the and replaced with an all new electric drivetrain and motor. Yes, it is true that todays technology has developed newer battery prototypes that last 250-plus miles and charge completely in less than 10 minutes, but the older technology is usually appropriate for most daily commutes of say 50 to 100 miles.

Compared to the average $200 to $300 per month most of us are paying for gas, $5,000 could be paid off is just over 2 years, and that’s not adjusting for any future increases in gas prices. Some folks have even offered the advantage of converting a newer high priced vehicle to make its monthly payments more affordable, as you will be able to spend an extra $200 to $300 that you would not have normally not had for the month.

Porsche 911 GT2 (0-60 in 12 seconds), here we come!

While we certainly wouldn’t recommend defacing a Porsche 911 GT2, there are a lot of practical cars that would be perfect for this technology. Here is an example of a Porsche 912 electric conversion in the process:

The following is a short list of companies doing such conversions. Do a search on Google, you just might have one in your own hometown.

The Green Shed Conversions (http://greenshedconversions.com/default.aspx), Fort Pierce, Florida

Rocky Mountain Motor sports Fabrication http://www.rockmonstermotorsports.com/), Las Vegas, Nevada

Ampmobile Conversions (http://www.rockmonstermotorsports.com/) Lake Wylie, South Carolina

Chevy has been keeping the unveiling of the 2010 Camaro very much on a need to know basis. We have heard rumors of everything from a hybrid version of the Camaro to a 4 cylinder. As it stands today, the latest word from the Motor Trend Blog is that the 4 cylinder idea had been dropped for now, as well as even the lower powered 6 cylinder base.

It looks like Chevrolet is really going for the throat of both Dodge and Ford and all we can say is that we hope they themselves have a few tricks waiting up their sleeve..

The three engines that have been chosen (most likely) are the 3.6 liter V6, the 6.0 liter LS3 (the same as found in the current Pontiac G8), and finally a supercharged version that will surely give the Ford Shelby 500KR a run for all its lunch money and then a black eye for handing it over too quickly!

The V6 (high output from the Cadillac CTS) base would have approximately 300 horsepower, which is likely to be in the current Mustang GT territory. Especially if geared right. The opening price of the base Mustang is looking to be in the range of $23,000, which has caught some slack from enthusiasts who are still stuck on the Ford Mustang V6… which is happy to say, yet a whole other technological beast.

The 6.0 liter V8 Camaro will have a fitting 403 horsepower which could definitely see its 0-60’s in the low 4 second range. Now the supercharged V8 is looking to have a legitimate 500-plus horsepower and a sticker price to match, which would put it over $50,000, which has also gotten a lot of enthusiasts panties in a bunch.

This is of course just to set the Camaro off in style. After these three are released there is talk of a hybrid to eventually squeeze itself in the lineup as well as maybe even the much rumored turbo 4 cylinder (doubtful, but possible)… we’d put out money on the hybrid before the 4 banger.

An economical Camaro would almost need to be part of the packaging someday with the trend the automotive industry. Chevy already has its performance oriented Corvette and the Camaro has always been the sports car for the average folk, and the average folk are going to be looking into saving money in the coming year!

One thing is for sure, and that is the Chevy Camaro is no longer just a dream. It is actually in full swing of production, and we could be seeing these on the streets in less than a year.

“Eek, that’s soon”, says the Ford Mustang as it stands quivering in a puddle of radiator fluid…