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Bush's $6 trillion botch

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whosinpower Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-10-05 05:14 PM
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Bush's $6 trillion botch
http://www.courierjournal.com/cjextra/editorials/2005/01/04/opin-bot0104-2947.html

Apologies to mods if this has already been posted.

snip - In case you missed it during the Christmas holidays, the Government Accounting Office just calculated the staggering scope of that botch.

The Medicare drug benefit the administration muscled through Congress, without even a pretense of funding and with deliberately misleading estimates, will add $6 trillion to $8 trillion to Medicare's shortfall over the next 75 years, the GAO determined.

That is nearly double the Social Security shortfall that President Bush is acting so alarmed about, and it "is one of the largest unfunded liabilities ever undertaken by the federal government," said Comptroller General David Walker, head of the GAO.

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rkc3 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-10-05 05:15 PM
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1. Ten year projections are meaningless - didn't bush say that
before espousing his own 10-year projection?
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stray cat Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-10-05 05:16 PM
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2. GOP wants to cap the benefits to fit the original estimate
Edited on Mon Jan-10-05 05:16 PM by dmordue
They kept the program long enough to get elected
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