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This Might Be Biden’s Biggest Lie

Among the various programs incorporated into President Biden’s falsely named Inflation Reduction Act the one that Democrats promote the most is the reductions in the cost of prescription drugs.  So, they say.  It is based on the plan to have Medicare “negotiate” drug prices with the pharmaceutical companies.

If you are hoping to see a reduction in the cost of your meds the next time you head to your local pharmacy, you will be sorely disappointed.  Biden & Co. have been selling the sizzle – but the steak is nowhere in sight yet.

The Democrats have been celebrating the passage of the Inflation Reduction Act but have not been explaining implementation of the drug price reduction provision.  Negotiations with Big Pharma will not begin until sometime next year.  Those early discussions will initially center on a few drugs (yet to be determined).

The issues are very complicated – and the interchange between Big Pharma and Uncle Sam will go on for years.  They are currently scheduled to have the drug reduction provision fully implemented for some drugs sometime in 2025 or 2026.  How do I know that?  Because White House Press Secretary Karine Jean-Pierre said so on CNN this morning.

By the time the folks at home get any relief from the financial burden of prescription drugs, the benefit will be consumed by inflation – just like those salary increases Biden takes credit for.  This is another “benefit” that will be hard to see.

There is a second problem with the Biden prescription drug plan.  While they talk about “negotiating” with the drug companies, what they are actually doing is called “price fixing “– or putting a cap on prices.  Rather than engage real negotiations, Uncle Sam will essentially be imposing the prices.

At first blush, that may sound good.  But there is an untoward side effect.  Any time you cap prices, you produce shortages.  That is just the way the economy works.  What gets squeezed out of the drug companies’ budgets is money for research and development – new and improved drugs and treatments.  That means the loss of new or improved medicines for such diseases as diabetes, Alzheimer’s, cancer, etc.

That is what happened with President Nixon’s wage and price controls.  It is what routinely happens in communist countries like North Korea and Cuba.  It was the major reason why so many people were standing in long bread lines and even starving in Stalinist Russia and Maoist China – before they moved in the direction of free(r) markets.

And the prescription drug portion of the Inflation Reduction Act is not the only provision with which Biden is flimflamming the public.  We will deal with some of those in future commentaries.

In the meantime, keep checking the cost of medications.  You may see some lowering of your co-pay because that is what the insurance companies do.  My co-pay to my Personal Care Physician dropped from $50 to $35 … and now to $0.  My co-pay for specialists dropped from $75 to $35.  That was the result of competition.  All that long before the Biden legislation.  Biden promised to drop my cost of my insulin to $35 per prescription.  I am currently paying less than that. 

It is getting to the point that we can safely disregard any promise Biden makes.

So, there ‘tis.

Written by Larry Horist

4 Comments

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  1. Which one of the thousands he has lied about is the biggest one? The jerk can’t tell the truth. He has lied more than any president before him. Pedo joe, the king of liars.

  2. “The Inflation Reduction Act!” Think about this piece of legislation the Democratic Communist Party just passed and O’Biden signed into law. Why would the Democrats want gas, inflation and everything else that’s costing Americans an arm and a leg to go down in cost when their policies were the reason inflation happened in the first place! It was ALL PLANNED!

    Remember, O’Biden’s first week in office he immediately started war on fossil fuels. He killed the pipeline and handed it to President Putin which gave Putin the financial ability to invade Ukraine. War isn’t cheap.

    Biden knew about the invasion month’s before Putin went in. Who believed the lies the Democrats fake news was telling all of us. Putins just doing military drills. The guy moved half his ground troops right onto the border of Ukraine, seriously a military practice??!!

    Now we’re finding out that our government officials aren’t tracking how the multiple billions of dollars and military equipment is going to. I’ll bet the O’Biden administration is skimming some of those billions.

    Obama and Biden will go down in U.S history as the most criminally corrupt administration(s). That’s probably not the legacy these two azzwhole’s were expecting!

    The war on gas and oil, essentially open borders, complete lawlessness, defund police, no bail, treating suspects as victims and the police as suspects, printing and borrowing money we don’t have, the indefensible withdrawal from Afghanistan killing soldiers and leaving allies and Americans behind, CRT to indoctrinate our kids, labeling parents who questioned school boards as domestic terrorists, claiming Jan 6th was a planned insurrection yet there were no
    Guns used. How do you overthrow the Capital with no guns…

    This was ALL PLANNED! VOTE THEM OUT !!!!!

  3. It’s been 2 years since slow joe and ‘heels up’ harris got into the top seats for reasons known only to Almighty God. Really who in their right mind voted for these incompetent bozos and inept clowns running things here like a 3 ring circus, minus the laughs? Hope everyone’s satisfied how things are turning out, NOT! Really the thought of having to deal with this BULLSHIT for the next 2 years is truly scary. Haven’t the American people suffered enough with the worst inflation in almost 90 years, higher and higher food and gas prices and the list goes on and on. So that said, what is the GOP going to do about this slow moving train wreck before all hell breaks loose? Bottom line thay need to get off of their collective butts and begin impeachment procedings IMMEDIATELY. What more evidence do they need to nip this unraveling disaster in the bud before it’s too far gone to save? Please no more blaming this disaster on Trump. Give it a rest and let it go, he’s been gone for 2 years and it’s time for the Trump bashing to stop. This BS rests on the shouders of slow joe and ‘heels up’ harris

  4. Not to be flip but I just can’t stop laughing at the preposterousness of lowering prescriptio drug prices. Anyone who believes the politicians are going to do this must believe in the tooth fairy, Easter Bunny and Santa Claus because this has been going on for years and nothing constructive has been done and will never be done sad to say.

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