The Great Society/New Deal IV (1964-68) continues: While the United states Armed Forces are in Vietnam, “united in its determination to take all necessary measures in support of freedom,” Democratic (socialist/fascist) President Lyndon Johnson signs the Social Security Act of 1965, creating the Medicare (health insurance for the elderly) Medicaid (health insurance for the poor). Medicare is to be funded by a 1.45% payroll tax on both workers and their businesses.
Postscript: The initial budget of the Medicare program was 2,748,000,000 “dollars,” with a projected cost of 12,000,000,000 “dollars” by 1990. The actual cost of Medicare of that year was 90,000,000,000 “dollars”—a 650% cost overrun.
[restored 10/11/2022]
Subsequent Events:
Authority:
“Law of the Jungle”
ccc-2point0.com/preface
References:
Calvin D. Linton, ed., The Bicentennial Almanac: 200 Years of America, 1776-1976, (Nashville, Tennessee: Thomas Nelson, 1975), 402.
BUDGET-2010-TAB.pdfn
www.gpo.gov/fdsys/pkg/BUDGET-2010-TAB/pdf/BUDGET-2010-TAB.pdf
50 Years Later, Medicaid, Medicare Still Spend Us Into Oblivion
thefederalist.com/2015/07/31/medicare-medicaid-same-problems-50-years-ago/8
Current U.s. National Debt:
