Windship
VIP Member
- May 27, 2014
- 3,096
- 131
The government estimate for Medicare when it was conceived was that it would only cost $12 billion a year by 1990, the actual cost that year was $107 billion, which is inline with just about every other federal "program" ever conceived, so anybody that believes that estimate is optimistic to the point of insanity.A mere $62.6 billion dollars!
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Not to mention that it would (once again) eliminate disincentives for over-consumption and thus completely destroy the price mechanism, just like idiotic government interference in the health insurance and student loan markets have already done.
TANSTAFL and there's no such thing as "free college" either.
Back that up with some links or do you just throw numbers around to suit your agenda? And even if it were true...I dont care. The moneys are going toward keeping people healthy. Let me ask you...how do you think this lopsided transfer of wealth happens? Hmmm...why is it so expensive....hmmm, ok...when a payment is sent out, who receives that payment and why is THAT person making so much? Maybe we need to regulate THOSE peoples poay like the working class has been "regulated" for the last 45 years.
Fact Checker
Jim DeMint’s claims about Medicare cost estimates from 1965
By Glenn Kessler October 21, 2013
Medicare’s enactment, it was projected that the federal government would spend $9 billion on Part A hospital services in 1990. Actual spending in that year totaled $67 billion—an increase of 644% compared with initial estimates.
“Likewise, government officials originally projected that Medicare Part B physician services would require ‘federal appropriations of about $500 million a year from general tax revenues.’ Last year, the federal outlay for that program was $163.8 billion—overshooting the original estimate by more than 4,400%.”
— Former senator Jim DeMint (R-S.C.), writing in The Wall Street Journal, Oct. 17, 2013
Jim DeMint, president of the Heritage Foundation, wrote an opinion article in which he declared that the organization would continue to fight the Affordable Care Act, a.k.a. Obamacare, despite the failure of the government-shutdown strategy that the organization had advocated earlier this year.
In making the case that the cost of the health-care law was sure to grow, DeMint cited some figures about Medicare that struck us as a bit fishy. So we decided to investigate.
The Facts
There’s no question that any new social program often has unintended costs. We often point to the fascinating story of the creation of Medicaid, detailed in a 1993 article by former White House aide Joseph A. Califano Jr., which unexpectedly has led to one-third of the Medicaid budget today going to nursing homes. That’s an excellent example of a good intentions and congressional deal-making gone awry.