Biden spent billions to delay Medicare premiums spike, protect Harris campaign before election
Seniors groups warn that Biden budget gimmickry means "taxpayers are footing the bill today, seniors will pay the price tomorrow."
By Steven Richards
Published: November 3, 2024 10:56pm
Updated: November 4, 2024 9:50am
Democrats were confronted earlier this year with a terrifying reality: a cap on out-of-pocket costs for patients to limit Medicare drug spending passed as part of Biden’s signature Inflation Reduction Act was set to spike premiums for millions of senior citizens just weeks before the 2024 presidential election.
To avoid the political catastrophe of presiding over major premium increases in the middle of a closely contested election, the Biden-Harris administration used its authority to reroute appropriated funding to subsidize the premiums for seniors until after the election.
The administration’s $5 billion budget gimmick kicked the proverbial can down the road, but only adds to the estimated possible $20 billion in additional spending over three years to cover up the unintended consequences of one of the Biden-Harris administration's signature laws.
https://justthenews.com/politics-policy/elections/biden-harris-administration-spent-big-tamp-down-medicare-prices-right
