The Economy

"I'm told it's a healthy part of our economy!" - a thread.

 

Another part of our healthy economy:



WSJ News Exclusive | Pfizer Prices Covid Drug Paxlovid at $1,400 for a Five-Day Course

 

But, but, those profits are needed to spur innovation on potential new drugs.

 

U.S. Deficit, Pegged at $1.7 Trillion, Effectively Doubled in 2023

It's all part of our healthy economy! 9th graf:

Republicans — who helped run up big budget deficits with tax cuts and increased spending when they were in power — have begun insisting on deep budget cuts in order to reduce the federal deficit. The fact that the shortfall widened could make it even more challenging to get Congress to agree on a series of spending bills that must pass by next month in order to prevent a government shutdown.

 

Sigh.

We demanded stimulus checks during COVID. They ran up the deficit. Three years later we scream, "THEY ran up the deficit!!"

Sanders, Warren and other Democrats demand $1,200 payments in new Covid deal

We're like Dyatlov in Chernobyl:

"Raise the power."
Power raised, core explodes
"What did you DO!?!?"

 

What will the average price for Paxlovid be? (Hint: NOT $1,400)

 

from the story:

Pfizer plans to subsidize copays of people who are commercially insured at least through 2028.

Pfizer officials have said that the company gave the U.S. government a volume discount in selling it Paxlovid for $529 a course. The company charged other high-income countries $700 to $900 a course, according to the person familiar with the matter.

Gilead is charging commercial health plans $3,429 for a five-day course of its Covid-19 antiviral remdesivir, a Gilead spokeswoman said. The therapy, which goes by the brand name Veklury, is given by intravenous infusion.

David Boulware, an infectious-disease physician and professor of medicine at the University of Minnesota Medical School, said $529 a course was a more reasonable price given that many people have developed protection against the virus from vaccinations and infections.

He said a high price could force health plans to limit access. “With a low cost medicine, they’re not going to aggressively police it, but a higher price medicine they likely would,” he said.

 

Trump tax cut package preceded the pandemic by several years.

And as was said at the time, Republicans cut taxes - then complain about the debt / the deficit.

www.propublica.org/article/national-debt-trump

Washington's Circle of Life!

 

Man, that is some bad writing.

 

According to the chart, tax cuts raised deficit by $2 trillion over three years (bad). It went up $4 trillion in the COVID year (6 times worse).

 

Tax cut.

Global health emergency.

Same thing.

 

Most Americans never missed a paycheck. PPP ensured that many others didn't, either.

What emergency did they face that necessitated receiving money?

COVID was a financial bonanza for our household. Got stimulus money. Started working remotely (less gasoline and wear and tear on car). And company gave us quarterly bonuses because of the "added expense" of working from home (more use of electricity??).