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The reliability of spending "estimates"

From Tim Andrews on Wednesday, March 3, 2010 5:38 PM
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As the Administration is attempting to downplay the cost of a government takeover of healthcare, it is worth reminding ourselves of just how good the government actually is at estimating future costs. 

The Denver post today provides a good illustration:

Remember that Congress estimated Medicare's cost at $12 billion for 1990 (adjusted for inflation) when the program kicked off in 1965. Medicare cost $107 billion in 1990 and is quickly approaching $500 billion."

Does anyone seriously think the same won't happen this time?

Permalink | Email | Print | Tags: HEALTHCARE, SPENDING, Federal

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