That estimate of
Medicare "reform" proposals pending before Congress is gone,
man.
But there are new
figures -- and they're even higher.
Here's how: On June 27,
the House and Senate approved separate proposals that would add
prescription drugs to Medicare as an entitlement. The bills'
sponsors said it would cost $400 billion over the next 10
years.
But on July 22, the
Congressional Budget Office offered a different estimate. It said
the Senate drug provisions would cost $432 billion from 2004-2013.
The House's drug provisions would be $425 billion in the same
period.
This isn't a slight
discrepancy, notes Heritage Foundation health-care expert Derek
Hunter in an Aug.
12 paper. In less than a month, the government changed how much
these Medicare bills will cost you, the taxpayer, by as much as $32
billion.
Maybe more: Heritage
experts have found that these bills, which are being hammered into
one by a Capitol Hill committee, could cost taxpayers $2 trillion
by 2030. That's 12 zeros, folks. To put it another way, households
would pay $3,980 in 2030 in taxes just for
Medicare.
No one knows what the
final costs of these Medicare bills will be, Hunter writes. But one
thing is clear: "Over time, the costs of administration and
congressional proposals to add a Medicare prescription entitlement
have all gone in one direction: up."
Read more of Hunter's
paper and other Heritage Medicare research at heritage.org.