Up to now and ever since it began, remember about 2005, Medicare Part D came into play, which is the, the drug, the prescription drug part of Medicare. When that came into play, the law was that Medicare was not allowed to negotiate with big pharmaceutical companies drug prices [since Medicare Part D began]. I mean, we've been talking about economic principles here this morning and supply and demand. And boy, if there is one economic principle that all of us come together and agree on is that we Americans love to negotiate, don't love to negotiate things. (55:49–56:00)
CLAIM
Asserts that Medicare has been prohibited from negotiating drug prices with pharmaceutical companies since Medicare Part D began.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
