White House Deal With Pharma Will Cost Taxpayers
The Obama Administration is touting its pact with the pharmaceutical industry as "an historic agreement to lower drug costs." Both sides claim the deal will save consumers -- and especially -- the federal government, a total of $80 billion over the next decade.
A close look at the details of the agreement, however, shows that the new rules could have precisely the opposite effect by substantially raising spending on pharmaceuticals. Seniors will wind up paying less in the short term, but taxpayers are going to get soaked down the road.