And why was inflation higher?
During the 1970s, general inflation was higher due to a series of supply shocks in the energy sector.
Health care cost inflation has been higher over the whole period due to advances in technology.
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And why was inflation higher?
And why was inflation higher?
During the 1970s, general inflation was higher due to a series of supply shocks in the energy sector.
Health care cost inflation has been higher over the whole period due to advances in technology.
It's not even that. The report is saying that total national spending on health care is projected to increase by one percent. It's not saying that the deficit will increase because of it. Also, the report shows that national spending on health care increases by two percent until 2015. After 2015, you start to see a lot more cost savings. So, if anything, this report undermines their arguments.
Yeah! You want to see the original projections for Medicare????????
The cost of Medicare is a good place to begin. At its start, in 1966, Medicare cost $3 billion. The House Ways and Means Committee estimated that Medicare would cost only about $ 12 billion by 1990 (a figure that included an allowance for inflation). This was a supposedly "conservative" estimate. But in 1990 Medicare actually cost $107 billion.
The Medicare Monster - Reason Magazine
That underminds YOUR argument. The government does not have a great reacord when it comes to accurate projections.
Included an allowance for inflation that was much lower than the actual inflation rate.