Some perspective on government cost projections

They are fantasy.

From Michael F. Cannon:

Medicare and other entitlements have a history of spending more than projected. It’s in their nature.

When Medicare was enacted in 1965, official government projections foresaw hospital spending — the program’s largest component — reaching only $9 billion in 1990. Actual Medicare spending on hospital care in that year was $66 billion, or over seven times as high.



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