In 1965, Congressional budgeters said that it [Medicare] would cost $12 billion in 1990. Its actual cost that year was $90 billion. Whoops. The hospitalization program alone was supposed to cost $9 billion but wound up costing $67 billion. ...a program that began at $4 billion [a year] now costs $428 billion.
Tuesday, October 20, 2009
From The Wall Street Journal today
at 6:00 PM