Gee- Who would have ever predicted this:
President Bush’s new budget will project that the just-enacted prescription drug program and Medicare overhaul will cost one-third more than previously estimated and will predict a deficit exceeding $500 billion for this year, congressional aides said Thursday.
Instead of a $400 billion 10-year price tag, Bush’s 2005 budget will estimate the Medicare bill’s cost at about $540 billion, said aides who spoke on condition of anonymity. Bush will submit on Monday a federal budget for the fiscal year 2005, which starts next Oct. 1.
Bush just signed the Medicare measure into law last month. While it was moving through Congress, Bush, White House officials and congressional Republican leaders had assured doubting conservatives that the bill’s costs would stay within the $400 billion estimate.
Some conservatives voted against the legislation anyway, and many of them are already angry that Bush has presided over excessive increases in spending and budget deficits.
“I’m not the least bit surprised,” said conservative Rep. John Shadegg, R-Ariz., who voted against the Medicare bill in November and who said he had heard that the cost estimate would rise. “Historically, our estimates of what these programs will cost have been so far off as to be meaningless.”
Assholes. That really is the only comment I can come up with right now.