TRUTH IS ELUSIVE

When Medicare was enacted in 1967, the projections then were that its annual expenditures by 1990 would be $12 billion. Actual expenditures in 1990 were $110 billion.

Medicaid started as a proposed modest program with $1 billion in annual expenditures. It’s now $280 billion.

We’re told that health care reform won’t cost more than $900 billion over the next 10 years. This is accomplished on paper by sleight of hand. Taxes are assumed to start in 2010, but expenditures not until 2014. Starting the meter when the expenditures actually begin shows that over the first ten years the costs are more like $2.5 trillion.

I thought we were trying to eliminate debts with balloon payments.

Scroll to Top