Word: costs
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Dates: during 1970-1979
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DISABILITY INSURANCE. Tucked into the Social Security system in 1956, this innocuous-sounding program cost $1.5 billion in 1965, $13 billion this year, and predictions are that it will cost $27 billion by 1985. The number of people receiving disability payments has tripled in 13 years, to 4.8 million workers and dependents, a total that exceeds the population of Virginia, say, or Norway. Disability costs are an important reason for the near bankruptcy of Social Security and the large payroll tax increase that was voted by Congress last December at the urging of the White House and Califano...
With the Government and private insurers picking up the check, hospitals have speedily expanded, adding beds that are not needed and competing vigorously for patients by buying such expensive equipment as CAT scanners, sophisticated diagnostic computer devices that cost as much as $700,000. Califano estimates that there are enough CATS in Southern California to serve the entire western U.S. Having made such heavy investments, hospitals feel compelled to use the equipment even though it may not be necessary, thus driving medical costs up further. The doctor too is encouraged to provide services that are not strictly needed. Faced with...
...than a million former students have not paid up, a default rate of about 16% (the rate for ordinary commercial loans is 2.6%). The cost to taxpayers: more than $ 1 billion...
...plan is to head off a bill proposed by Senators Daniel Patrick Moynihan and Bob Packwood that would allow parents to deduct up to $500 from their income tax for every child they had in college or private school. The White House claims that the credit would cost the Government too much in lost revenues and would benefit the rich as well as the poor. But the tax-credit plan has great political appeal. Last week the House voted 237 to 158 for a tuition tax credit of up to $250 for each student in college...
...federal welfare?Aid to Families with Dependent Children (AFDC), Medicaid, food stamps and Supplemental Security Income (SSI)?distribute more than $30 billion to some 30 million Americans. The vast program is unfair and inefficient. Benefits vary widely across the country, in part because the states share the cost of the program, and their contributions differ dramatically. A family of four in Mississippi, for instance, receives $60 a month; in New York, it would get $450. Fathers are encouraged to desert, since AFDC payments generally go to single-parent families. If welfare mothers choose to work full time, they stand...