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White House raises prescription drug cost estimate--again.(Insider Report)(Brief Article)

The New American

| March 07, 2005 | COPYRIGHT 2009 American Opinion Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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…

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Source: HighBeam Research, White House raises prescription drug cost estimate--again.(Insider...

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