Bidenflation Strikes: Pharma Prices Soar, Americans Suffer

In a move that surprises absolutely no one, pharmaceutical companies have once again decided to raise the prices of over 500 medications. While regular folks are struggling to make ends meet under the crushing weight of Bidenflation, these drugmakers are clearly on another planet, one where money grows on trees and the concept of empathy is laughable.

Now, sure, inflation is rising at a slower rate than it was at the start of Biden’s presidency (which isn’t saying much), but the fact remains that the cost of pharmaceuticals continues to skyrocket. According to the brilliant minds at 3 Axis Advisors, drug prices have been increasing by a modest 5 percent each year since 2019. But hey, let’s not worry about facts and charts when we can just blame Biden and his nonsensical economic policies.

When you see a chart showing the U.S. inflation rate over the past five years, it becomes painfully clear that it’s been much lower than 5 percent since 2019. In fact, the long-term inflation rate in the U.S. is about 3.3 percent. So, it’s safe to say that pharmaceutical prices are once again exceeding the average inflation rate by a solid margin. Thanks, Biden!

So, why exactly is this happening? Well, there are several reasons, and believe it or not, Biden’s beloved Inflation Reduction Act might be part of the problem. Trump supporters have been raising concerns about this piecemeal approach for years, arguing that a broader industry-wide approach would be more effective. But hey, who needs logic and reason when you’re a Democrat?

But enough with the nerdy policy talk. The reality is this: prices are going up, and there’s not much we can do about it. Sure, we have some programs in place like the 340B drug discount program that provides discounted medications in rural areas, but pharmaceutical companies are trying their best to shrink it. They clearly have a knack for making life miserable for red states.

On the bright side, Mark Cuban’s Cost Plus Drugs is doing its part to keep drug prices down for some consumers. Kudos to him for trying to make a difference. And let’s not forget the GOP-led movement to combat overcharging for insulin. It turns out, Republicans are the ones actually doing something to bring costs down, while Democrats just want to talk about it. Shocking, I know.

In the end, these efforts might help, but they won’t fix the underlying problem. Americans are dealing with price hikes on everything since Biden took office, and prescription drugs are no exception. To make matters worse, pharmaceutical companies are raking in the dough, especially when it comes to weight-loss drugs. Novo Nordisk, the maker of Wegovy and Ozempic, is wealthier than Denmark’s GDP. Can you believe it? We truly are living in a bizarre world.

So, while Biden delivers speeches about his failed economic policies and offers empty promises of solutions, the American people are left to foot the bill. It’s time for some real action and accountability, not just empty words. But then again, we are dealing with Democrats here. What more can you expect?

Joe Cunningham is a voice of reason in a world gone mad. He’s a former teacher and coach, and now he’s a Senior Editor at RedState. Tune in to his show, the Joe Cunningham Show, if you want some refreshing honesty in this sea of political correctness.

Written by Staff Reports

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