Grandma's Selfish Trade for Prescription Drugs

by Patricia Green, published on 12/1/06 by MedsAbroad.com

Amity Shlaes opines at Bloomberg.com about how grandparents are making choices, siding with the democrats, in order to get their prescription drugs cheap at the cost of newer drug development in the future. We can look to Europe for examples of the problem. Because of price controls, Europe buys only cheap drugs - generally not the newest and best. In the US, price controls (also known as "negotiated prices") will certainly have the same effect.

Ms. Shlaes also points out that it appears that drug companies are going to react to Americans' bargain hunting in Canadian pharmacies as well; though she doesn't specify how.

We think it is selfish for Grandma to grab for low drug prices at a cost of newer, potentially life-saving drugs for the grandkids. But when has that generation and the one previous to them been less selfish? Social Security is a money grab, and all the programs associated with it just follow down that track like a freight train out of control. According to the Social Security Administration, in 1960 there were 5.1 workers contributing per beneficiary receiving social security, in 2006, that number has dropped to 3.3 workers (contributing more money), and in 2032 there will only be 2.1 workers available to support the large number of beneficiaries. Imagine how much money they'll have to put in when there are only 2 people available to support Grandpa!

The same problem exists for the new entitlement, Medicare Part D. There just aren't enough workers now or in the projected future to support the growing number of elderly beneficiaries. Does that make people more inclined to save for their own retirement, be responsible for themselves rather than expecting the grandkids to fork out hard-earned dollars to support them? Not so far. The enslavement program that started with "the greatest generation" (so humble) is going to turn out to be the the most selfish program ever legislated in the US.

It is simply untenable for that generation to grapple for even more by insisting on lower cost prescription drugs now at the cost of newer, more effective drugs in the future.

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