Why are government cost projections always so utterly wrong?

By Jack Hellner:

They’re always underestimating these costs. Why are we always so broke at most government entities? Why do these costs always overshoot their budgets? The short answer is that politicians and bureaucrats routinely underestimate the costs of all government programs, and then they overestimate the revenue from the new taxes they propose to pay for the programs. Through abject ignorance or intentional malfeasance, they do not project that taking additional money out of businesses and individuals’ pockets through higher taxes and additional regulations will slow down the economy. Then as costs come in higher than expected and revenues lower than projected, they just borrow more and tax more, furthering the vicious cycle. The greedy government continues to get bigger and more powerful while this and future generations suffer. But politicians are out buying votes with more “free” stuff. The public are pawns.

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