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Today's Nuze

"Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others."

Ayn Rand

Nobody's listening.

YOU KNEW THIS ONE WAS COMING

By
Neal Boortz
@ April 7, 2009 8:39 AM
Permalink | Comments (12) | TrackBacks (0)

Just remember that whenever government says that a program is going to cost a certain amount, it is never ever going to cost that cited figure ... it will always cost more. In this case we are talking about the $700 billion TARP, which was originally cited to cost the tax payers $189 billion. But guess what? The Congressional Budget Office has raised its estimate of how much the tax payers are really on the hook for .. try $356 billion. That's just a mere $167 billion more than originally estimated. It is guaranteed to go higher.

By the way, TARP belongs to Bush, you know. The original intent was to purchase toxic assets from financial institutions so that they could lend again. Sure didn't work out that way. Another spending program that belongs to Bush is the Medicare prescription program. I wonder what the tab is for that now. At a minimum it is twice what Bush told us it would cost.

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What others are saying

  • prescription drugs
    got my last years worth in mexico..500.00 to cover the same exact stuff that would have cost me 7000.00 here in the usa due to government regulations.. aka we need to meet a certain price criteria..when will you all get it ? they need to protect our country and rights not our personal agendas...
  • @ Ace and the Medicare Drug Benefit
    Medicare Part D went into effect in 2006.

    2006 to 2009 is a lot less than 10 years.

    Let's take a look at this program in 2013 and see how the true cost compares to the projected cost.
  • thats why...
    this makes no sense to me at all. Obama says spend your money to make the economy grow. BUT HOW CAN WE DO THAT WHEN THEY TAKE OUR MONEY AND DONT ALLOW US TO SAVE IT UP TO SPEND IT?
  • Medicare Drug Benefit
    Actually, the Medicare Drug benefit for seniors is costing LESS than projected. Haven't located the actual numbers, but here are two references to this fact:

    Fred Barnes:
    The seventh achievement is the Medicare prescription drug benefit, enacted in 2003. It's not only wildly popular; it has cost less than expected by triggering competition among drug companies. Conservatives have deep reservations about the program. But they shouldn't have been surprised. Bush advocated the drug benefit in the 2000 campaign. And if he hadn't acted, Democrats would have, with a much less attractive result.
    http://www.weeklystandard.com/Content/Public/Articles/000%5C000%5C015%5C986rockt.asp?pg=2

    Bill Frist:
    Initially, conservatives howled because the prescription drug initiative "cost too much." Liberals hated it because it involved the markets and competition. But today, 23 million seniors live healthier lives, Medicare drug spending has been 20 percent to 30 percent less than predicted for each of the past two years and seniors overwhelmingly give the program enthusiastic reviews.
    And, in addition, the program is highly redistributive -- giving advantages the poorest, introducing preventive care to Medicare, encouraging electronic prescribing and introducing chronic disease management. Who says Republicans can't lead on heath reform?
    http://www.cnn.com/2009/POLITICS/01/15/frist.bush/index.html
  • Scott that's great!
    Of course it goes against everything the left believes and requires too much honor, dignity and accountability.
  • Taxation without representation
    Actually, it is the LOVE of money that is the root of all evil and those democrats sure do love other people's money.
  • got salamanders?
    I wonder if we can sell the government a box of salimanders for 10 million?.. that helocopter was just reassesed at 20 billion it seems the old design did not meet certain criteria..gotta love government spending ill bid on the contract for a dollar plus cost and my us senator friend will ensure my contract wins by way of minor restructuring of the wording..so long as we do..i mean make a campaign contribution..
  • Mike's Law in the Real World
    My son-in-law works for a contractor. It's a known fact that if you're working on a federal project you can "stick it" to the government. The costs are always higher, accountability is lower. You are telling it like it is, Mike.
  • Mike's Law
    Actually, I have a very simple rule of thumb.

    Mike's Law: Any government program will probably cost about twice the projected cost.

    Projected TARP cost: $189 billion; Actual $356
    Projected Presidential helicopter cost: $6.5 billion, actual $13

    And so on.

    That's for short term (< 10 year programs). For entitlements, it's more exponential.
  • Franscisco's money speech
    This is long, but Boortz should read it on the air.

    Link: http://www.georgiapacking.org/forum/viewtopic.php?f=35&t=28013

    excerpt:
    "So you think that money is the root of all evil?" said Francisco d'Anconia. "Have you ever asked what is the root of money? Money is a tool of exchange, which can't exist unless there are goods produced and men able to produce them. Money is the material shape of the principle that men who wish to deal with one another must deal by trade and give value for value. Money is not the tool of the moochers, who claim your product by tears, or of the looters, who take it from you by force. Money is made possible only by the men who produce. Is this what you consider evil?

    "When you accept money in payment for your effort, you do so only on the conviction that you will exchange it for the product of the effort of others. It is not the moochers or the looters who give value to money. Not an ocean of tears not all the guns in the world can transform those pieces of paper in your wallet into the bread you will need to survive tomorrow. Those pieces of paper, which should have been gold, are a token of honor--your claim upon the energy of the men who produce. Your wallet is your statement of hope that somewhere in the world around you there are men who will not default on that moral principle which is the root of money, Is this what you consider evil?

    "Have you ever looked for the root of production? Take a look at an electric generator and dare tell yourself that it was created by the muscular effort of unthinking brutes. Try to grow a seed of wheat without the knowledge left to you by men who had to discover it for the first time. Try to obtain your food by means of nothing but physical motions--and you'll learn that man's mind is the root of all the goods produced and of all the wealth that has ever existed on earth.

    "But you say that money is made by the strong at the expense of the weak? What strength do you mean? It is not the strength of guns or muscles. Wealth is the product of man's capacity to think. Then is money made by the man who invents a motor at the expense of those who did not invent it? Is money made by the intelligent at the expense of the fools? By the able at the expense of the incompetent? By the ambitious at the expense of the lazy? Money is made--before it can be looted or mooched--made by the effort of every honest man, each to the extent of his ability. An honest man is one who knows that he can't consume more than he has produced.'
  • You Knew This Was Coming
    i would be shocked if a goverment program accutally cost the tax payers what they claimed it would in the begining. Most people with common sense knows that any goverment program will be at least triple over what they originally claim it would but most people don't care as long as BIG Brother is there to take care of them.
  • Running Bet
    Maybe you can help me here.

    I have a running bet with my friends and associates that no one will take up.

    Several years ago, I came up with the following:

    -----------

    John's Projection Principle: No government projection about money for 10 years (or more) in the future is ever within even 10% of the actual result.

    Corollary: If the projection concerns a good thing, it is always overstated (e.g. revenues brought in or jobs created by a new policy); if the projection is about a bad thing, the projection is always understated (e.g. costs associated with a particular policy).

    -----------

    Since then, I have challenged anyone and everyone to prove me wrong.

    To date, no one has been able to do so.

    Think you can find an example which proves me wrong?
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