Bill Nelson: “I thank the Senator and I thank the Senators from South Carolina and Michigan for giving me the privilege to share with…”

“I thank the Senator and I thank the Senators from South Carolina and Michigan for giving me the privilege to share with the Senate what I have experienced since I have returned from a meeting in West Palm Beach with senior citizens concerned about the implementation of the prescription drug benefit for Medicare which starts tomorrow. This prescription drug benefit, which many in this Senate opposed because it was faulty, it was a meager benefit, and it broke the principles of free enterprise economics by not allowing the Federal Government, through Medicare, to negotiate the prices of prescription drugs downward by bulk purchases, as has been the case in Government for the past two decades through the Veterans' Administration, as well as the Department of Defense. Veterans today pay $7 per month for their prescription drugs. Part of that is subsidized. But a large part of that is the fact that the Veterans' Administration buys prescription drugs in huge quantities and therefore negotiates a lower price. Not so with the prescription drug benefit passed for Medicare in this Senate, of which almost half--maybe not quite half of the Senate, including this Senate--voted against. But, nevertheless, it is the law. It is being implemented tomorrow.…”