The centerpiece of President Obama's plan is a "public option," described by Tom Daschle as "a government-run insurance program, modeled after Medicare." The president asserts that this new Medicare-like program would cut costs.
But there are nearly 40 years of experience to consult, and they offer a resounding rebuttal. Across the years, Medicare's costs have risen far more than the costs of privately purchased care.
The article includes a nice graph of the growing gap between Medicare spending and non-Medicare spending.