Skip to comments.Take My Medicare
Posted on 11/20/2009 9:15:34 AM PST by bs9021
Take My Medicare
Malcolm A. Kline, November 20, 2009
In the usual manner in which bad ideas become even worse reality, good chunks of what policy wonks here are calling health care reform are flowing out of academia. Arguably, the most pernicious of these is the notion that the federal government can build on the success of Medicare.
Lawmakers from both parties would have winced at such a brain wave ten years ago when both President Clinton and the Republican Congress, albeit using markedly different approaches, attempted to reform Medicare. What a difference a decade makes.
That the federal governments program of medical treatment for the elderly is now considered a model for the rest of the population is a testament to the frequently unwarranted prestige given such nostrums when they emanate from the mouths and word processors of pedagogues.
Dan Mitchell throws some much needed cold water on this theme in a tax and budget bulletin from the Cato Institute. The federal governments ability to predict healthcare spending leaves much to be desired, he argues. When Medicare was created in the 1960s, the long-range forecasts estimated that the program would cost about $12 billion by 1990.
It ended by actually costing $110 billion that year, or nine times more than expected. Mitchell is a senior fellow at Cato, a libertarian think tank....
(Excerpt) Read more at academia.org ...