Democratic lawmakers keep prescribing more and more quack economic medicine. They do so before the previous dose has done its full measure of damage. And they do so even though preliminary results are disturbing and indicate nothing good.
Reps. Frank Pallone , Richard Neal , and Bobby Scott introduced a bill in July, which they and fellow Democrats plan to push when Congress returns from August recess. The legislation would vastly expand socialized medicine in the prescription drug industry. If the bill becomes law, long-term patient health would suffer nationwide.
Everybody wants lower prices; but there is no good and much damage done by a scheme that appears to work only in the short term, but not over time. The side effects are more harmful than the supposed disease. Common sense suggests major controversial changes shouldn't be expanded before preliminary results are analyzed. Yet here, congressional Democrats want to push into the private market something the government for decades wasn’t even allowed to do for its own senior health program.
When free markets operate, prices tend to settle over time. As medical patents or copyrights expire, generic drugs rush in and drive prices down. The initial high prices for new lifesaving medicines help pay for astronomical research and development costs and the costs of securing approval from the Food and Drug Administration.
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