Because foreign countries can import new U.S. drugs and price them however they see fit, many have largely checked out of the innovation business themselves. The U.S. produced 57% of the world’s new medicines between 2001 and 2010, up from less than a third in the 1970s, the Milken Institute reported in 2011.
The bottom line is that foreign countries freeload off American medical innovation, enjoying the fruits of U.S. ingenuity while forcing American consumers to shoulder a disproportionate share of the burden of funding research – effectively causing the American consumer to subsidize the pharmaceutical needs of foreign consumers.
President Trump says American companies have been getting “systematically ripped off” by foreign governments and firms. He’s right. Yet he has backed a proposal that would make the problem even worse—permitting Americans to buy prescription drugs from overseas retailers, a practice known as importation. This policy wouldn’t help American consumers much, but it would gut American pharmaceutical companies.
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We’ve always said that ObamaCare, for all its flaws, could become the instrument by which responsible reformers renew their push for health care that delivers value for money. In the meantime, however, no worthwhile thoughts about ObamaCare, pro or con, are to be heard from people who count a program as a success just because Americans enjoy receiving benefits at the expense of other Americans.
Source: ObamaCare Beyond the Handouts – WSJ
I originally wrote this on my Facebook page. I am embedding that post below, but also putting the text here (including fixing some grammatical mistakes from the original post).
In 2009 White House economists tried to sell ObamaCare as a health cost-control bill, and some liberals still claim the recent spending deceleration is a result of the law even though it is really due to a bad economy.
On Wednesday, the actuaries at Health and Human Services released their new annual projected measurement of national health expenditures for last year and through 2023. Spending in 2013 grew at a relatively low rate of 3.6% which still outpaced real economic growth. They expect the rate to climb to 5.6% in 2014 and continue rising by 6% a year, on average, through the decade.
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The massive mid-term election of 2010 is now over. My phone won’t ring 25 times today with some computer imploring me to vote for one candidate over another. The signs that are all along the streets in my town can come down (hopefully the candidates come out and clean up their mess). Life can now go back to some sort of normal.
The Republicans evidently picked up approximately 60 seats in the House of Representatives. They also made major increases in the Senate and that house appears to be split nearly 50/50 (the exact count probably won’t be known for a couple days as Alaska will probably take a while to count due to the write-in candidate).
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Currently, President Barack Hussein Obama is planning on going to Copenhagen to be a celebrity pitchman for the city of Chicago (and America in general) for the home of the 2016 Olympics. While there is plenty of controversy over this decision since there are probably hundreds of movie stars and celebrities that could be tasked with helping the cause, the concern that BHO is too busy to go is probably not relevant.
Currently, every head of state for a city that is in the finals is visiting the IOC. BHO’s lack of attendance would be telling if he did not go. If BHO stayed home and spent more time socializing our economy, he would be vastly criticized if Chicago lost their bid. It is the sad state of Olympics politics that the head of state needs to be involved in order to win since Blair did that 4 years ago to secure London’s hosting spot.
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First, let me be clear, I think that Rep. Wilson of South Carolina should be censured for his outburst while President Barack Hussein Obama was speaking in a joint session of Congress. He reminds of irresponsible brats such as Kanye West. Public outbursts while the President is speaking are simply unacceptable in any format and definitely not allowed in a joint session of Congress.
I do think that it is interesting that the rude outburst occurred due to a statement from BHO regarding healthcare for illegal aliens. There is a reasonable argument that BHO, while perhaps not lying, was not telling the complete truth. Check out this interesting video below and then read the rest of my comments.
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