One of Donald Trump’s main campaign promises was to bring prescription drug costs under control by letting Medicare negotiate their prices on prescription drugs, which they are currently not allowed to do. He said that pharmaceutical companies were “getting away with murder” and that they had “a lot of lobbyists and a lot of power.”
“We’re the largest buyer of drugs in the world, and yet we don’t bid properly,” he said. This was one of his campaign promises that I personally applauded.
That was then. This is now.
On Tuesday he met with some of those drug company lobbyists and executives, and came out of the meeting have reversed course. He declared that Medicare is practicing price-fixing, and promised to cut taxes and deregulate the drug industry.
How to explain this?
I think Jordan Weissmann has it right in an article published by slate.com: “He’s an easily impressionable man with little policy knowledge and few core principles, and his administration consists mainly of proud plutocrats, white populists, and some Tea Partiers. Of course he was going to walk out of that meeting with plans favorable to the pharmaceutical industry, his supporters’ medical costs be damned.”
America, your prescription drugs are about to get more expensive.