On Monday, November 9, 2009, financial analyst Charles Goyette was on Coast to Coast AM.
In the third hour of the program, at 21:28, he stated that when Medicare was introduced in 1965, it was estimated to cost $9 billion by 1990. Instead, he said, it actually cost $67 billion by then — a 744% underestimation.
Do you trust the cost estimates of any of the current federal health care reform bills to be any more accurate this time around?
Comments at http://www.reddit.com/r/politics/comments/a4p6n/medicare_cost_744_more_than_forecasted_by_1990_25/
and http://www.ronpaulforums.com/showthread.php?t=219222
[...] and unsustainable government health plans, such as Medicare, which, as I previously documented, cost 744% more by 1990 than previously estimated at its inception, in [...]
THERE WAS NO CBO IN 1965!!
And no one is predicting what costs will be in 25 years.