when we were off a couple of months ago debating the Medicare bill, we were told it was going to cost $400 billion. We found out all along everybody knew it would cost $550 billion, and nobody was told the absolute truth. Most importantly, you were not told. Not a single new benefit has gone to a senior citizen and the taxpayers are stuck with another $150 billion hit. Now everybody wants to talk about the benefit that is going to come with a discount card giving a 25 percent discount. The costs of prescription drugs at the pharmacy are rising on average 19 percent a year for the last 7 years. So what you are going to see is what we all know happens at Neiman Marcus right before a sale, prices get jacked up as high as they can and then they offer a sale to give you a discount from the inflated prices. That is what is happening to prescription drugs right now at the pharmacy. Seniors on average pay 40 to 50 percent more for their prescription drugs than people in Canada and Europe for the same drugs that have been developed here in the United States. What we need is a reimportation bill to bring the prices down, make them competitive, and get world-class drugs at world market prices rather than the 50 percent inflated prices that we pay here in America.
Editor's note · Context
Discussing the costs and implications of the Medicare bill and prescription drug prices.
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