The Wall Street Journal provided a handy chart of “Uncle Sam’s Cost Overruns.” In 1965, when Medicaid was enacted, the House Ways and Means Committee estimated that first year costs would amount to about $238 million. The actual price was $1 billion. The program now costs $251 billion annually and is climbing fast. The record is similar for Medicare. In 1965, Congress predicted that by 1990, Medicare would be costing $12 billion. The actual cost — $90 billion. As Peter Orszag, director of the Office of Management and Budget has admitted, “If costs per enrollee in Medicare and Medicaid grow at the same rate over the next four decades as they have over the past four, those two programs will increase from 5 percent of GDP today to 20 percent by 2050.”
So the same people who brought you cost spirals in Medicare and Medicaid now propose to introduce another government health program. Don’t worry, they assure us, we know how to provide efficiencies. It’s not necessary to dwell on the risible claim that they will cut half a trillion in waste from the Medicare budget. If they know where that waste is, why aren’t they cutting it now? Where, on the books, are the federal waste-cutting initiatives?
Charen dissects two of the ludicrous claims made by the won on how he will cut costs. Please go read the whole piece. It is devastating.
The entire exercise in health care “reform” is a fraud, top to bottom. Look at the track record. Do you really think these people can fix anything? Do you really think government will run anything efficiently?
Look at the track record.
Start calling, start writing. Get loud. This economy killer has got to be stopped.