when the House voted on the Medicare bill, we and the American people were told its cost was $400 billion. Later, we found out that the Bush administration and congressional leaders knew all along it would cost actually $550 billion. What is a mere $150 billion among friends? Not a single benefit has gone to a senior citizen, and the taxpayers are stuck with an additional $150 billion on top of the misappropriated $400 billion. Beware of Bush administration officials bearing Medicare benefits. Prescription drug costs have skyrocketed over the last several years, six times the rate of inflation. It is like a sale at Nieman Marcus: Prices are jacked up by 50 percent before the discount of 25 percent. In 2001, drug costs increased by 16 percent; in 2002, 18 percent; in 2003, 19.5 percent. The prescription drug benefit will do nothing to protect senior citizens from skyrocketing cost increases. Instead of depending on a flawed Medicare law that punishes taxpayers and does little to help our senior citizens, we need to lower drug prices here in the United States by allowing competition and choice to exist in the market and allow people to buy their drugs in Canada and Europe where they are 50 percent cheaper than here in the United States.
Editor's note · Context
Addressing the costs and implications of the Medicare bill during a House floor debate.
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