The Biden administration has been touting this week the “success” of last year’s Inflation Acceleration Act. They rolled out the list of 10 drugs whose prices will be capped by the feds, allegedly to reduce health care costs.
There are two problems with this. First, as the excellent editorial in the WSJreported yesterday, we have strong evidence that these “negotiated” drug price controls are stalling the pace of new drug development- which means that MORE people – especially older Americans will die from delayed therapies and drugs.
Second, most of the short-term healthcare “savings” from these price controls aren’t actually being used to lower overall healthcare costs or to reduce Medicare’s trillions of dollars of future funding shortfalls. Instead, the money is being diverted to help pay for the Biden $370 billion green energy slush fund and electric vehicle subsidies. A recent poll, as reported by the Washington Examiner shows that the vast majority of seniors are on to this scam.