The Problem of Predicting Government Expenditures
March 10th 2010 23:57
From the Denver Post:
Not surprisingly, making predictions 25 years into the future can be problematic. When a politician says that their new bill will cost X amount of dollars, remember to add an extra zero after that number. This will give you a better idea of how much it will actually cost.
Follow me on Twitter: @AGoldenDoor
Remember that Congress estimated Medicare's cost at $12 billion for 1990 (adjusted for inflation) when the program kicked off in 1965. Medicare cost $107 billion in 1990 and is quickly approaching $500 billion. Who's going to stop it?
Not surprisingly, making predictions 25 years into the future can be problematic. When a politician says that their new bill will cost X amount of dollars, remember to add an extra zero after that number. This will give you a better idea of how much it will actually cost.
Follow me on Twitter: @AGoldenDoor
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