Tuesday, December 07, 2010

Medicare Drug Subsidy Mainly Replacing Private Spending

This is precisely what everyone said would happen with this massive new entitlement program pushed by George Bush and passed by a Republican Congress. Young taxpayers are now being ripped off to pay for drugs that seniors would have paid for themselves. Hey young taxpayers, you are such an easy con.

Four of every five dollars the federal government spends under the Medicare Part D drug plan do not allow seniors to obtain drugs they could not otherwise afford. Instead, this spending mainly substitutes for money that seniors and their private insurers would have spent anyway.