This past June, Congress added $1 billion to the 2009 Supplemental Appropriations Act for the “Consumers Assistance to Recycle and Save Act of 2009”. Though it had no business appearing in an emergency war funds bill, this “Cash for Clunkers” provision established a new one-year program administered through the Department of Transportation’s (DOT) National Highway Traffic Safety Administration (NHTSA) that gave individuals with older, less fuel efficient cars a credit worth up to $4,500 towards the purchase of a new car that met certain fuel efficiency standards.
Salvage the Good from the Healthcare Debacle
The healthcare reform juggernaut, arguably the most radical attempt to remake the economy and the nation’s healthcare infrastructure in history, was supposed to have flown through Congress before the August recess with nary a peep. Instead, as Americans have gotten wind of its alarming provisions and exorbitant costs, the plan appears to be fizzling fast in the summer heat.
A “Generic” Call for Change
As Congress braces for the largest reform of healthcare in the nation’s history, lost in the debate has been an issue critical to federal and state healthcare budgets, as well as the ability of consumers to afford lifesaving drugs. The issue is whether Congress should grant generic makers of the next generation of medications called “biologics” the same regulatory approval treatment it did for chemical drugs under the 1984 Hatch-Waxman Act.
Healthcare Reform: A Pricey Prescription
President Obama promised this would be the year of health care reform, but many are bracing for what this “reform” could really mean. After much anticipation, Democrats have started to unveil their healthcare reform plans, revealing new policy proposals that would, among other things, expand Medicaid, impose individual and employer mandates, enlarge the almost bankrupt Medicare program, create a new government-run healthcare plan, and cost at least $1 trillion over 10 years. The overall result will inevitably be higher taxes, less patient choice, and ultimately, rationing of care.
Medicare/Social Security Insolvency
While the Obama Administration ratchets up support for government-run healthcare, which would be a new entitlement program, the government trustees who monitor the nation’s two largest entitlement programs, Medicare and Social Security, have reported that they are both less than a decade away from insolvency.