Les Jones

Health Care > Overruns in Bush's Prescription Program

Medicare Drug Benefit to Cost $724 Billion:

Congress narrowly approved the drug legislation in 2003 after an extraordinary all-night debate. At the time, Republican leaders assured wavering lawmakers that the program would cost $400 billion, including expected savings. The administration estimated the cost at $534 billion two months later, after the law was enacted.

The $724 billion figure is in documents obtained Wednesday by The Associated Press and related to the president's Monday budget request to Congress. Without anticipated savings included in the calculation, the cost of the program over the next decade could swell to $1.19 trillion, according to the documents.

True, lots of government programs go over-budget, but prescription drug plans seem to be the worst. For previous examples, see the UK and the state of Tennessee.

News link via SouthKnoxBubba.