Writing in The Arizona Republic, liberal columnist Linda Valdez took the occasion of Medicare’s 50th anniversary to laud the “courage” of Lyndon Johnson, for signing it into law.
Of course, she failed to mention that when he signed the Medicare bill in 1965, the initial cost was $3 billion, and it was estimated that the cost would increase to just $12 billion in 1990. Actually, it grew to $110 billion by 1990. Last year the cost went up to $511 billion. And a funding crisis looms.
We have spent some $15 trillion on LBJ’s war on poverty, however, 46 million people live in poverty today, and another 20 million live on less than half of the poverty level. His prediction of “victory of prosperity over poverty” is long forgotten. Continue reading