I just listened to a breakdown of the bill’s supposed reduction in out-of-pocket medication costs. These reductions don’t start going into effect until 2024-2026. By 2029-2030, there will be a whopping 20 medications on the list. That part of the bill is complete BS and another example of our government bending over to big pharma. But it…
I just listened to a breakdown of the bill’s supposed reduction in out-of-pocket medication costs. These reductions don’t start going into effect until 2024-2026. By 2029-2030, there will be a whopping 20 medications on the list. That part of the bill is complete BS and another example of our government bending over to big pharma. But it lets democrats campaign on reducing medication costs right before a mid-term election when many older voters won’t even be alive when these reductions are supposed to go into effect. Again, it’s political BS.
I don’t know much about Larry Summers but I find it hard to believe that with the positions he’s held, that his advice/policy recommendations didn’t help lead us to where we’re at. In fact, based on him helping to push this bill through tells me all I need to know about his contributions to our financial mess. The solution is always to spend more money we don’t have. Printing new money in a time when we have massive inflation due to the increase in our money supply will never make sense. Here’s an idea, how about no new money gets printed until inflation gets back down the 2%.
Anyone interested in an alternative take on the inflation mess should look up Professor Steve Hanke. I listened to an interview with him in June 2021 and he absolutely nailed the prediction for our inflation level and says it’s here to stay for at least another 12 months. More importantly, he explains that the most critical contribution to inflation is the rate of expansion in the money supply. At the peak of “Covid relief,” our money supply was growing at 20% a year. Less than 5% growth is generally considered necessary to keep inflation down around 2-3%. So we were way over that. Last I heard, the money supply was growing at 12% a year, so we’re still more than twice what we need to be at. Thus a spending bill that dumps billions or trillions of new money into the economy is the last thing we need to drive down inflation. I know there’s different theories in economics but so far, Professor Hanke has been right so I trust him more than the guy telling us more government spending is the cure to our cancer.
No offense to Mr. Summers but from the outside, it looks like he was critical of the cool kids until the cool kids invited him into their group. Then he drank the cool-aid and is now spouting off the same garbage we get from other financial gurus (Yellen, Powell, etc.).
The reductions will be a boon for lobbyists as big Pharma and they're Dem partners navigate and negotiate. Tell you what we'll force 10's of millions to get these shots in exchange you accept less money for generic you no longer care about. DEAL!
I just listened to a breakdown of the bill’s supposed reduction in out-of-pocket medication costs. These reductions don’t start going into effect until 2024-2026. By 2029-2030, there will be a whopping 20 medications on the list. That part of the bill is complete BS and another example of our government bending over to big pharma. But it lets democrats campaign on reducing medication costs right before a mid-term election when many older voters won’t even be alive when these reductions are supposed to go into effect. Again, it’s political BS.
I don’t know much about Larry Summers but I find it hard to believe that with the positions he’s held, that his advice/policy recommendations didn’t help lead us to where we’re at. In fact, based on him helping to push this bill through tells me all I need to know about his contributions to our financial mess. The solution is always to spend more money we don’t have. Printing new money in a time when we have massive inflation due to the increase in our money supply will never make sense. Here’s an idea, how about no new money gets printed until inflation gets back down the 2%.
Anyone interested in an alternative take on the inflation mess should look up Professor Steve Hanke. I listened to an interview with him in June 2021 and he absolutely nailed the prediction for our inflation level and says it’s here to stay for at least another 12 months. More importantly, he explains that the most critical contribution to inflation is the rate of expansion in the money supply. At the peak of “Covid relief,” our money supply was growing at 20% a year. Less than 5% growth is generally considered necessary to keep inflation down around 2-3%. So we were way over that. Last I heard, the money supply was growing at 12% a year, so we’re still more than twice what we need to be at. Thus a spending bill that dumps billions or trillions of new money into the economy is the last thing we need to drive down inflation. I know there’s different theories in economics but so far, Professor Hanke has been right so I trust him more than the guy telling us more government spending is the cure to our cancer.
No offense to Mr. Summers but from the outside, it looks like he was critical of the cool kids until the cool kids invited him into their group. Then he drank the cool-aid and is now spouting off the same garbage we get from other financial gurus (Yellen, Powell, etc.).
Correct, the increase in M2 is what caused most of this inflation.
The reductions will be a boon for lobbyists as big Pharma and they're Dem partners navigate and negotiate. Tell you what we'll force 10's of millions to get these shots in exchange you accept less money for generic you no longer care about. DEAL!
We'll also force insurance to mandate coverage for this that and the other thing in the name "Fill in blank".