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Government overestimation

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vive la insurrection posted on Tue, Jun 19 2012 11:23 PM

Was wondering if anyone could give me examples within the past 75 years where a government overestimated the costs of something.

 

I'm sure it's happened, I was just curious of a specific example

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gotlucky replied on Tue, Jun 19 2012 11:26 PM

I was about to suggest The Big Dig, but then I reread your question and realized you weren't asking about underestimation.

I look forward to answers too!

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Prime replied on Tue, Jun 19 2012 11:51 PM

I think I remember Karl Rove claiming Medicare D cost less than projected. Don't know if that was accurate.

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Anenome replied on Wed, Jun 20 2012 12:55 AM

In California recently they suggested the new high-speed rail would cost some $107 billion. Now that public opinion has turned against the project, suddenly they're saying it will only cost $58b. Weird, huh?

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I seriously doubt anyone would be able to come up with anything.  And even if one could, I guarantee it wouldn't be at all significant.  But there's just no need for the governnment to be that conservative.  They have nothing to gain and plenty to lose from overestimating.  And the opposite is basically true for underestimating.

I do recall the Hoover Dam was completed on budget and ahead of schedule though.  But of course, that was private companies.

 

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I'm bumping this.  I would at least like to see something cited.

I couldnt find a clear answer on medicare D on the basic search I did for it.

"As in a kaleidoscope, the constellation of forces operating in the system as a whole is ever changing." - Ludwig Lachmann

"When A Man Dies A World Goes Out of Existence"  - GLS Shackle

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