Does the senior prescription drug benefit figure in there somewhere? It’s huge.
There is a discussion in the document on page 19:
The key excerpt for me was:
“Projected costs of Part D are lower than originally estimated. Projected net Part D
spending between 2004 and 2013 is approximately $240 billion, or about 38 percent lower, than
originally projected. This decrease is due in part to competition among private plans encouraged
by the Administration. Average Part D premiums in 2008 are 40 percent lower than original
estimates. “
I personally do not think a prescription drug benefit was avoidable as part of medicare. I think Bush implemented a cost control system based on competition that will make it a model for solving future insolvencies in other programs. The program is already coming in under budget projections from its original founding.