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Medicare Bill a Major Catastrophe for Future of This Country

  • December 03, 2003

In the race to provide 40 million seniors with the popular drug benefit, the voices of fiscal restraint were quashed. The $400 billion program you have heard and read about is likely to cost a good deal more than was advertised in the brochure. Let us examine history. In 1966 when Medicare was introduced it was predicted to cost $12 billion by 1990, but it cost over $107 billion in 1990. Similarly, the $400 billion announced new Medicare price tag hides the magnitude of the promises being...
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