When one federal lawmaker learned in January that the Medicare
bill passed by Congress last year would cost $134 billion more than
expected, he said the law was "a work in progress."
A "work in progress"? That's fine if you're talking about a
painting. But when you're talking about offering prescription drugs
to all 40 million Medicare patients, regardless of need, that's not
fine. In fact, the latest official estimate of the cost is $534
billion-that's more than a half a trillion dollars. The Medicare
prescription-drug entitlement isn't even in effect yet, and the
real fiscal disaster is on its way.
But not a disaster nobody thought about. Robert Moffit and other
Heritage Foundation analysts predicted this situation and others in
a series of research papers last year. Here are two:
What Will Medicare's Future
Hold For Seniors and Taxpayers? (Sept. 24, 2003)
New Medicare Drug
Entitlement's Huge New Tax On Working Americans (July 30,
2003)
For more information or to receive an e-mail version of "Bitter
Pills," contact [email protected] or call Heritage Media
Services at (202) 675-1761.
"Bitter Pills" is an occasional, but regular, feature from The
Heritage Foundation on how the 2003 Medicare drug law is full of
sickening "surprises" that have serious consequences for seniors
and taxpayers. Of course, The Heritage Foundation isn't surprised
at all. We diagnosed the problems long ago in our Medicare Maladies
series (http://www.heritage.org/research/healthcare.cfm). Both
Medicare Maladies and Bitter Pills are available on heritage.org
(if you can stomach them).
Report Health Care Reform
Bitter Pills #1: How Much For "A Work In Progress"? $534 Billion (Or More)
March 29, 2004 1 min read
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