(AmericanPoliticalDaily.com) – While Senator Bernie Sanders continues pushing for socialist health care, President Donald Trump is delivering real results with the free market. According to a report from the White House Council of Economic Advisors, drug prices in the United States gave fallen by over 11% under the Trump administration.
The report found that measures taken by President Trump have reduced the prices of prescription drugs, noting that during the Obama administration, prices continued increasing. Former President Barack Obama can’t take credit for this good news, as the report noted prices only began dropping after Trump became president.
Writing that prices fell significantly
below general inflation, the CEA explained:
“In 2018, prescription drug prices even declined in nominal terms over the calendar year for the first time since 1972.”
The CEA also admitted that much of the reason why prices have been in freefall is because of the passing of the 2017 Drug Competition Action Plan, as well as the Strategic Policy Roadmap in 2018. The reforms allowed greater competition in the biopharmaceutical markets, forcing suppliers to lower prices.
In the report, the CEA estimated that the results of passing this key legislation will include consumers saving “almost 10 percent on retail prescription drugs,” accounting for an “increase of $32 billion per year in the purchasing power of the incomes of Americans.”
News that prices are going down will be welcome to the president’s campaign, as the chances of going up against universal healthcare advocate Bernie Sanders increase following his Nevada caucus victory. A poll by the Kaiser Family Foundation found that health care is still the most important issue for swing voters. If the president is able to show real-world results, it may stave off a challenge from Sanders’ radical reform proposals.
The president doesn’t appear to be finished with his health care reforms, either. During the State of the Union Address he made earlier in the month, President Trump announced that his administration was “taking on the big pharmaceutical companies.”
“We have approved a record number of
affordable generic drugs, and medicines are being approved by the F.D.A. at a
faster clip than ever before,” he said.
“And I was pleased to announce last year that, for the first time in 51 years, the cost of prescription drugs actually went down.”
President Trump also said that, if Congress can work together on legislation, drug prices can be reduced even more.