Moderate Democrats Once Again Sabotage the Radicals, This Time on Drug Pricing

DM

Anywhere between 20 and 60 new or “novel” drugs are introduced in the United States every year — far more than any other nation. The U.S. pharmaceutical industry is one of the wonders of the technological and scientific world. So why do Democrats want to destroy it? Democrats have been pushing a scheme that involves Medicare “negotiating” with pharma companies to lower at least some drug prices. It wouldn’t be much of a “negotiation.” Medicare can pretty much dictate what it is willing to pay for a drug. The Democrats want to use the “negotiations” to create a trillion-dollar slush fund to finance its other healthcare initiatives. They want to take “savings” (tribute) from the “negotiations” and apply them to an expansion of Medicare and other healthcare programs. As usual, Democrats are far too optimistic in their savings estimates. But it would give Joe Biden cover to pursue other elements in his $3.5 trillion Build Back Better reconciliation bill. Now, three moderate Democrats have made it clear they won’t support the Build Back Better bill if it has the Medicare negotiating scheme in it.

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