The Real Cost of Government-Run Health Care [Veronique de Rugy] (via NRO)
In light of the current debate over health-care reform and its cost, this video, narrated by Dan Mitchell, is a very good reminder of why government-run health care is a terrible idea that will cost billions more than what is announced. For instance, Mitchell reminds us that government's ability to forecast the cost of its new entitlement programs is terrible. When Medicare was created in 1965, the long-term forecast was that the program would cost $12 billion in 1990. Wrong. It turned out to be over $100 billion. Today, it costs $500 billion. The same thing is true with Medicare and pretty every other government-run program.
The important message of this video is that no matter what CBO, Pelosi, the Senate, or Baucus tell us, either version of these plans are budget busters and that we will, as taxpayers, have much to lose.
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