My latest column for the American Spectator takes a closer look at the President’s harebrained scheme to “control costs” by making Granny skip her meds. He wants Medicare to negotiate (i.e. dictate) prices to the drug companies:
Like all price-control schemes, this would inevitably lead to shortages. If Medicare forces the drug companies to sell their products at rates that fail to cover costs, these companies will simply stop manufacturing those drugs.
And the proposed plan would inhibit innovation as well. The pharmaceutical companies will cut back investmemts in R&D if they don’t think the government will allow them to make a decent profit on the results.
The only upside to the President’s proposal is the weeping and gnashing of teeth that the drug industry has engaged in due to Obama’s double-cross. They thought they had bought him off by endorsing ObamaCare.
No small amount of schadenfreude is to be had from the squealing of drug industry representatives. They, like the leadership of the American Medical Association (AMA), pursued a quisling strategy on Obamacare in order to avoid this very contingency.
As we say in the South, I just hate it for ‘em. These jerks sold out their customers and the country in general to protect their wallets. They deserve whatever they get (and worse). The rest of the column can be read here.
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