Now they
tell us: The cost of the Medicare bill that President Bush will
likely sign is higher than expected-about $2 trillion in the second
decade alone.
"Many lean
on the estimate that the legislation will cost $400 billion over
the next 10 years," The Washington Post wrote in a Nov. 25
editorial. "Yet the director of the Congressional Budget Office
recently told members of Congress that in its second decade, the
measure could cost between $1.7 trillion and $2 trillion."
God forbid what life in the third decade will be like if real
reforms in Medicare never materialize: 77 million aging baby
boomers straining a Medicare program governed by sluggish
bureaucrats and stupid red tape. People paying more in taxes for
Medicare than for defense or Social Security. Companies dropping
drug benefits promised to their retirees because they want to
increase their profit margins.
But senators didn't seem to think about this as they voted 54-44
on Nov. 25 to approve the Medicare measure and send it to Bush. Why
should they? Their kids will deal with it.
That's been the problem from Day One. Lawmakers never saw past
the next election cycle when they wrote the universal drug
entitlement. They should have looked at the next 20 or 30 years.
Lawmakers literally passed the buck on Medicare and they don't care
that it stops in the apartments and starter homes of their grown
children or in the cribs of their grandchildren.
It's in their hands now. Let's hope they have the courage to do
what their elders could not: Reform Medicare on the principles of
choice, competition and serious cost containment.
This ends "Medicare Maladies," but not the Medicare debate. See
more research at
heritage.org.
("Medicare
Maladies" was launched 7/14/03 from The Heritage Foundation. Sad to
say, there will not be another malady coming your way tomorrow. All
90 "maladies" are available on heritage.org. For more
information contact medicaremaladies@heritage.org
or call Heritage Media Services at (202) 675-1761.)