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White House raises prescription drug cost estimate--again.(Insider Report)(Brief Article)
On February 9, the Bush administration released estimates that a new federal program to provide prescription drug coverage to Medicare recipients would cost $724 billion over the next 10 years.
The administration had lobbied hard for the prescription drug program, winning congressional approval in November 2003. At the time, the administration had estimated that the program would cost $400 billion over 10 years, and many Republicans voted for it, fearing that the alternative would be a far more expensive version of the legislation backed by liberal Democrats. The following January, the administration revised its estimate upward to $534 billion over l0 years and upward again recently to $724 billion. However, because the prescription drug benefit does not ...
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Source: HighBeam Research, White House raises prescription drug cost estimate--again.(Insider...