As the President and the Congress head to a showdown over SCHIP, it might be useful to see how, over the 2000-2005 period, the Federal government’s fiscal exposure evolved.
I rely upon a chart from the most recent version of David Walker’s Fiscal Wake-up tour.
In particular, observe the entry marked “Medicare Part D”, which was a zero entry in 2000. So when the Administration decries the $5 billion per year increase embedded in the legislation, compare it to the $8.7 trillion fiscal exposure that the Congress passed and the President signed. (For more on the sordid story of information-suppression in the run-up to passage, see here.)