I believe Medicare should be allowed to negotiate for cheaper drug prices. The U.S. Department of Veterans Affairs is able to negotiate for cheaper drug prices and the cost savings are significant. It is illogical that a consumer can buy medicines over the counter more cheaply than Medicare, despite its bulk purchasing power. We also need to end the practice of pay-for-delay, which will save taxpayers billions of dollars by prohibiting drug companies from paying competitors from bringing generic pharmaceuticals to market. We also must continue to improve the Medicare system by eliminating waste and fraud while bolstering its value and efficiency.
I would also take steps to make sure that the Social Security Trust Fund is repaid in full for the funds it has loaned during decades of surpluses. One of the greatest strengths of Social Security is that it is financed by a dedicated revenue stream and is self-funding. Social Security has not contributed to this nation's deficit and we can't look to the program to solve our budget crisis.