The current solution of "drug benefit cards" designed to save seniors money on prescription drugs doesn't actually save any money at all. It just shifts the costs from drug consumers to taxpayers. The Bush administration secured the passage of the new Medicare prescription drug benefit by misleading Congress regarding the cost to taxpayers of the program.
According to the Knight Ridder story published Friday [3/12/04], the government's chief Medicare actuary had estimated five months before the House vote [summer 2003] that a similar plan being considered by the Senate would cost $551 billion over 10 years.

Richard Foster, the chief actuary for the Centers for Medicare and Medicaid Services, was warned last summer not to reveal those figures or he would be fired.

With an estimate of about $400 billion over 10 years, the House passed the measure by five votes [in November 2003] .

Bush officials said in January [2004] the cost would be closer to $530 billion.

Senate Minority Leader Tom Daschle took to the floor Friday [3/12/04] to call for a revote of the new Medicare law and an investigation into whether the Bush administration violated any laws by allegedly withholding the true cost of the measure from lawmakers.
Source: "Medicare investigation sought' -- Newsday via Dallas Morning News - 3/13/04




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3/29/2024

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