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Biden’s Price Controls Make A Mockery Of His “Cancer Moonshot”

“Cancer doesn’t discriminate between red or blue, it doesn’t care if you’re a Republican or a Democrat,” Biden said in a speech Monday afternoon at the John F. Kennedy Presidential Library and Museum in Boston. “Beating cancer is something we can do together and that’s why I’m here today.”

Nice sentiment, but the idea that government cancer research will be our salvation even while we undermine the incentives for private sector R&D through price controls is naive and dangerous.

The recently passed “Inflation Reduction Act” will, according to University of Chicago professor Tomas Philipson, “cut the amount spent on cancer research by more than nine times as much as Biden’s ‘Cancer Moonshot’ initiative raises it.”

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