August 17, 2010
KUDOS TO MR. MOFFIT:
Bush drug plan beats cost mark (Stephen Dinan, 8/16/10, The Washington Times)
The numbers are stark and conclusive: In 2009, the government spent $60.8 billion on the drug benefit, or far less than the annual $111.2 billion cost projected just five years ago, after the program was enacted.The lower cost - a result of slowing demand for prescription drugs, higher use of generic drugs and fewer people signing up - has surprised even some of the law's most pessimistic critics.
"I'm perfectly willing to say I was wrong," said Robert Moffit, a senior fellow at the conservative Heritage Foundation who fought the 2003 bill as an inevitable boondoggle. "I projected these costs would go through the roof on prescription drugs. I also did not believe private plans would come and offer their wares. Frankly, I'm perfectly willing to say I was wrong."
Thank goodness W generally ignored his Right.
