A Prescription Drug Benefit: So Popular, So Elusive

These days, it's rare to find an idea that everyone in Washington can rally behind. But when George W. Bush announced support for a prescription drug benefit for seniors on May 15, he joined a long list of backers. President Clinton first laid out his Medicare drug plan a year ago. Since then, a bipartisan group of House and Senate lawmakers, the pharmaceutical industry, and Vice-President Al Gore have all scrambled on board. No wonder: A recent poll shows that 70% of Americans support the concept, even if it means higher payroll taxes.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.