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Medicare Fun Fact of the Day

Peter Suderman | 2.18.2011 12:55 PM


Via Avik Roy's new blog at Forbes:

In 1965, government experts projected that in 1990, on an inflation-adjusted basis, Medicare would cost $12 billion. In reality, Medicare in 1990 cost $107 billion. Oops.

This is what Arnold Kling means when he talks about "expert failure."

Peter Suderman is features editor at Reason.

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