Just One Good Thing - Medicare Drug Negotiations - A Boost for the Whole Economy

Just One Good Thing: Daily Political News about the 2024 Election, Kamala Harris and Democratic Achievements.

This episode explores how the Biden-Harris administration's Medicare drug price negotiations are benefiting the broader U.S. economy. From taxpayer savings and increased consumer spending to improved workforce productivity and innovation incentives, these negotiations are creating positive ripple effects far beyond just lowering costs for seniors. The discussion highlights how this approach contrasts with the previous administration's policies, which often favored pharmaceutical companies over economic growth and consumer well-being.

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Fact-checking quotes:

1. "If the new prices had been in effect last year, Medicare would have saved an estimated $6 billion, or approximately 22 percent, across the 10 selected drugs."
2. "Nearly 19 million seniors and other Part D beneficiaries are projected to save $400 per year on prescription drugs when the out-of-pocket cap drops to $2,000 in 2025."
3. "According to the Congressional Budget Office, Medicare drug price negotiations are projected to save the government $98.5 billion over the next decade, as assessed by the Inflation Reduction Act."