Final answer:
Calculating potential savings from rationing medicine based on age involves evaluating current Medicare expenses and projected growth, with consideration for ethical and care quality implications.
Step-by-step explanation:
Estimating the amount of money saved through Callahan's proposal to ration high-technology medicine based on age requires complex economic and healthcare policy analysis. Considering the huge costs associated with Medicare, particularly the expenses relating to prescription drug benefits for the elderly, and the growth in Medicare spending projected to increase significantly with the aging population, the proposal could potentially lead to substantial savings. However, the economic implications must be weighed against the ethical considerations and potential reduction in care quality and innovation that rationing could entail.