LARRY: SENATOR RICK SCOTT
CALLING THE MANCHIN-SCHUMER
SPENDING BILL A WAR ON SENIORS.
HE JOINS ME TO TALK ABOUT IT.
SENATOR SCOTT, NATIONAL
REPUBLICAN SENATORIAL COMMITTEE
CHAIR, GREAT STATE OF FLORIDA.
SENATOR SCOTT, THE WAR ON
SENIORS, I’M SURE THAT HAS
SOMETHING TO DO WITH THESE DRUG
PRICE CONTROLS.
TELL US MORE, SIR, PLEASE.
>> FIRST OFF, LARRY IT STARTS
WHAT IS HAPPENING ALREADY WITH
THIS INFLATION IN MY STATE.
I’VE GOT SENIORS THAT ARE HAVING
TO GO BACK TO WORK.
I HAVE GOT SENIORS DELAYING
THEIR RETIREMENT.
I’VE GOT SENIORS GOING TO FOOD
BANKS THAT NEVER BEEN TO FOOD
BANKS BEFORE.
THIS HAS BEEN A WAR ALREADY ON
SENIORS BUT LOOK AT THIS BILL.
YOU CAN’T IMAGINE, THEY SHOULD
CALL THIS BILL THE WAR ON
SENIORS ACT.
FIRST OFF IT WILL RAISE TAXES.
JOINT COMMISSION ON TAXATION
THERE WILL BE INCREASED TAX
BURDEN IN EVERY TAX BRACKET.
THAT IS NUMBER ONE.
THEY CUT $280 BILLION OUT OF
MEDICARE.
$280 BILLION OUT OF MEDICARE.
THEY WILL TAX OUR PHARMACEUTICAL
COMPANIES WHICH MEANS THEY WILL
HAVE LESS LIFE-SAVING DRUGS.
WHO DOES THAT HELP THE MOST?
OUR SENIORS.
ON TOP OF THAT THEY HAVE AN
EXCISE TAX ON GAS.
WE ALREADY HAVE THIS INFLATION
AND THEY WANT TO MAKE IT WORSE?
SO IT IS CLEARLY HURTING OUR
SENIORS.
I WATCHED MY MOM STRUGGLE WITH
INFLATION.
WE LIVED IN PUBLIC HOUSING.
HAD TO CHOOSE GAS IN THE CAR,
FOOD ON THE TABLE.
THAT IS WHAT OUR SENIORS ARE
DOING.
COMPLETE WAR ON SENIORS.
I’M ON AGING COMMITTEE.
DO A HEARING WHAT IS HAPPEN TO
THE SENIORS ACROSS THE COUNTRY
AND WHY DO DEMOCRATS WANTED TO
HAVE A WAR ON SENIORS.
LARRY: LET ME READ YOU ABOUT A
UNIVERSITY OF CHICAGO STUDY ON
PRICE CONTROLS ON
PHARMACEUTICALS.
THE STUDY SAYS THE DEMOCRAT
PRICE FIXING SCHEME WOULD KILL
UP TO 342 CURES ACCORDING TO
THIS STUDY.
ANOTHER STUDY FROM VITAL
TRANSFORMATION, A ACADEMIC
GROUP, IF DRUG PRICE CONTROLS
UNDER CONSIDERATION IN THE
SENATE HAD BEEN ENACTED IN THE
LAST DECADE, ONLY SIX OF 110
CURRENTLY APPROVED THERAPIES
WOULD HAVE MADE IT TO PATIENTS.
SO IT SEEMS TO ME THE DEMOCRATS
ARE MAKING A PHONY CASE.
PRICE CONTROLS MEANS YOU’RE
GOING TO GET LESS PROFITS, LESS
INNOVATION, LESS BREAKTHROUGHS,
YOU CAN’T OPERATE THAT WAY.
WE PROBABLY WOULDN’T EVEN HAVE,
WE PROBABLY WOULDN’T HAVE THE
"OPERATION WARP SPEED" VACCINE
IF WE WERE GOING TO SLAP PRICE
CONTROLS?
>> HERE IS WHAT IS CONSISTENT.
JOE BIDEN WHEN HE WAS IN THE
SENATE WAS OKAY WITH CUTTING
MEDICARE.
HE, HE GAVE A SPEECH.
HE OKAY WITH CUTTING MEDICARE
AND MEDICAID AND
SOCIAL SECURITY.
HE ACTS LIKE OH, HE WOULD NEVER
DO THOSE THINGS.
WE’VE GOT THE TAPE.
SO THE DEMOCRATS AND BIDEN, THEY
HAVE CLEARLY HURT OUR SENIORS.
I’VE GOT A LOT OF SENIORS IN MY
STATE ARE HURTING RIGHT NOW THIS
IS JUST GOING TO MAKE THEIR LIFE
WORSE.
MAYBE THEY WON’T EVEN HAVE
LIFE-SAVING DRUG.
THAT IS WRONG FOR THIS COUNTRY.
LARRY: HERE IS ANOTHER ONE,
SENATOR SCOTT, TOMAS PHILIPSON
WHO IS A FRIEND, CHAIRMAN OF THE
COUNCIL OF ECONOMIC ADVISORS, HE
A HEALTH CARE EXPERT, HE HAS A
PIECE IN "NEWSWEEK," HIS WORK
SHOWS OVER THE NEXT 17 YEARS
THIS DRUG PRICE CONTROL BILL
WOULD REDUCE DRUG INDUSTRY
RESEARCH AND DEVELOPMENT BY
ABOUT $663 BILLION, RESULTING IN
135 FEWER NEW MEDICINES.
THIS WOULD AMOUNT TO A LOSS OF
330 MILLION LIGHT YEARS, 30
TIMES THE LOSS FROM COVID.
THE LIFE LIFE AND DEATH STAKES H
ARE SO HIGH.
THIS WAR AGAINST SENIORS WILL
REALLY DAMAGE THEM AND THE REST
OF THE COUNTRY.
>> WE’VE GOT THE BEST
PHARMACEUTICAL INDUSTRY IN THE
WORLD, RIGHT?
THEY HAVE, WE GET ALL THE
LIFE-SAVING DRUGS.
WE GET THEM FIRST, RIGHT?
THE DEMOCRATS WANT TO STOP IT.
WHY WOULD YOU DO THAT?
ONE OF THE GREATEST INDUSTRIES
IN OUR COUNTRY, CLEARLY IN THE
WORLD, THEY JUST WANT TO HURT
OUR SENIORS?
I DON’T GET WHAT THE DEMOCRATS
ARE DOING HERE.
RAISE TAXES IN RECESSION.
WE HAVE ALL THIS INFLATION
HURTING ALL OF OUR SENIORS.
THIS WILL EXACERBATE THE
PROBLEM.
LARRY: YEAH, THE STRANGEST
THING, THE MOST IRONIC THING
SENATOR SCOTT, WE HAVE TO GO,
BUT IF YOU LOOK AT THE CONSUMER
PRICE INDEX, DRUG PRICES HAVE
NOT MOVED IN ABOUT FOUR YEARS
BECAUSE OF THE GENERICS
COMPETITION AND SO FORTH.
THESE NEW ONES, SURE, THE PRICE
IS HIGH, THE FIRST YEAR OR TWO,
THEN THE PRICE COMES WAY DOWN IF
YOU LET THEM PRODUCE AND