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Pharmaceutical Industry On The Take

Date: June 2, 2004
Location: Washington, DC
Issues: Senior Citizens Entitlements and the Safety Net Health Insurance Arts, Entertainment, and History


Pharmaceutical Industry On The Take -- (House of Representatives - June 02, 2004)

(Mr. DeFAZIO asked and was given permission to address the House for 1 minute and to revise and extend his remarks.)

Mr. DeFAZIO. Well, the pharmaceutical companies have a friend in the White House. Since George Bush has been President, pharmaceutical prices have gone up five times as fast as the cost-of-living adjustments for Social Security, five times faster than inflation, and now we have passed the phony prescription drug benefit under Medicare that provides these bizarre discount cards which put all the obligation on the seniors and none on the pharmaceutical companies.

They jacked up the prices of the most common drugs taken by seniors by up to 30 percent in the last year. Now they are going to give them a 15 percent discount. Just like the used car dealer, he jacked up the price 2,000 bucks before you walked on the lot, and then he says, I will give you a $1,000 discount. Hey, what a great deal.

That is what is being done to America's seniors under the leadership of this President and the Republican leaders of this House who are in the pocket and on the take from the pharmaceutical industry.

END

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