Audio Clips

21 February 2011

Failure of Projections

Beware of any government projections. They should always be suspect. Reason Magazine posted this:

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.

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