Tag: Medicare

Medicare’s promoters in 1965 promised the program would cut medical costs

When Medicare was enacted in 1965, Congress projected its costs into the future, and estimated that it would cost $3 billion dollars by 1990. Actual cost in 1990 was $98 billion. Today the program costs taxpayers more than $500 billion annually. Government officials consistently underestimate entitlement costs, refusing to recognize that medical entitlements artificially increase …

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