The President and some members of Congress have proposed requiring that prescription drug manufacturers pay rebates to the federal government for drugs dispensed to Medicaid/Medicare dual-eligible beneficiaries and other low-income seniors through the Medicare Part D program. (The required rebates would be in addition to the manufacturer-paid rebates already in the Part D program due to the market-based negotiations between manufacturers and Part D plans).
According to the latest estimates from the Congressional Budget Office, interest costs are set to more than triple in nominal terms, and more than double as a share of the economy and as a share of the budget.
The Washington Post reports that "President Obama's most recent budget request would reduce borrowing by $1.1 trillion over the next decade compared with current law -- almost entirely through higher taxes on the rich, large estates and smokers, congressional budget analysts said Friday.
The AP reports that the president is heading to Baltimore this morning in a trip "designed to focus on three areas of needed investment to grow the middle-class jobs, skills and opportunity." This comes at the end of a disastrous week for the administration, and just one day after reports indicate that "the U.S.