As with many things in the real world, the actual results matter less than who gets to take credit for those results. Today, I offer the example of lowering prescription drug prices.
Pres. Trump has announced signing a new executive order with the object of lowering certain prescription drug prices. I’m guessing that pharmaceutical companies are not so excited.
But I have searched and been unable to find any reaction from Democrats. Haven’t they advocated this exact policy for decades?
Put aside the debate of the effectiveness or desirability of price controls as an economic tool. Put aside any debate about the use of price controls in this specific industry.
Recall the controversy about the $35 monthly co-pay for insulin.
Five years ago (May 2020), Trump set a $35 monthly price cap on insulin costs for Medicare.
January 2021, immediately upon taking office, Biden repeals the Trump insulin price cap.
March 2022, a broader $35 insulin price cap is implemented under Biden. Biden and Harris deny the existence of an earlier Trump effort.
January 2025, Trump is accused of, but did not repeal the Biden $35 price cap in any form.
Whether you agree or disagree with the policy, it is only considered valid when a Democrat can take credit.
