William Dickens wrote:
> As I understand it, the cost of the medicare program turned out to be much greater
>than expected, but not because congress kept changing the legislation to add more
>goodies. Rather treatment became increasingly more expensive.
In an email discussion with me circa 1995, you mainly attributed the
low-ball estimate to wishful thinking (presumably mixed in with
deception?), not unforeseen technology shocks.
--
Prof. Bryan Caplan
Department of Economics George Mason University
http://www.bcaplan.com [EMAIL PROTECTED]
"He lives in deadly terror of agreeing;
'Twould make him seem an ordinary being.
Indeed, he's so in love with contradiction,
He'll turn against his most profound conviction
And with a furious eloquence deplore it,
If only someone else is speaking for it."
Moliere, *The Misanthrope*
