A major “deficit reduction” measure in Biden’s scam “Inflation Acceleration Act” was to impose price controls on new patented pharmaceutical drugs. This was supposed to SAVE the government more than $200 billion over the next decade, and lower Medicare costs.
But Tomas Philipson, an economist at the University of Chicago has found that Americans will suffer “health losses valued at $18 trillion” due to such factors as lost years of life, due to delaying the introduction of life-saving drugs. So, the societal costs are roughly two orders of magnitude higher than the government’s savings. Great idea, Joe.