Medicare years later

In 1965 the government came to me and said, starting next month we will take $3 out of your paycheck to pay for your health insurance when you are age 65. I said, never mind I will take care of my own insurance and they said no. It is the law. Well it was cheap so I said fine. Today the charge is $100 per month and the program is going broke. They estimated the future cost and it turned out that they were wrong by a factor of eight. In 1967 they estimated the cost in 1990 would be 12 billion and the actual cost was 98 billion and today it is over 500 billion and estimated to double in 2020. The point here is that they under charged from day one for this program and that was necessary to get it passed into law. We have just done the same thing on Obamacare. The cost estimate showed that it would save money. They said that they could insure 31 million new people at no cost. The program will not be fully implemented until 2014 and the cost estimates have already risen significantly. The President said the cost over the first ten years would be 900 billion and the latest estimates show it has risen to 2.6 trillion, a three-fold increase.