Recently enacted health care legislation is "on a par with passing Social Security and Medicare," gushed House Speaker Nancy Pelosi. That is a major reason why 212 members of the House of Representatives voted against the bill. They know their history.
Before both Social Security and Medicare were established, cynics warned the programs would cost much, much more than promoters claimed. They were right. Both entitlements exploded in cost, to the point that their financial viability has been in question for many years. Health care changes approved this week will do precisely the same thing, saddling future generations with a colossal new burden - on top of others for programs such as Social Security, Medicare and Medicaid.
We will be very surprised if health care cost estimates stand even the test of the first 10 years of the program. Claims the package will cost "just" $930 billion during that period will be proven wrong quickly.
If you doubt that prediction, ask yourself this: What major government program has stayed within initial cost estimates?
Answer: None of them.