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Prescription For Disaster

  • August 19, 2003

President Bush and Congress have agreed to spend $400 billion on prescription drugs for the elderly over 10 years. But they rarely address a basic question: Where does the money come from? I posted an article about this topic last week. This morning's NY Times tells us that the official price of $400 billion reflects the cost to the government after taking account of premiums to be paid by beneficiaries. You can bet your last dime that the program will cost us (the federal government)...