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Daily Archives: October 26, 2009

CBO: Pharmaceutical R&D and the Evolving Market for Drugs

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Pharmaceutical R&D and the Evolving Market for Drugs – October 26, 2009

  • “Investment in research and development (R&D) over the past several decades has produced a wealth of valuable new drug therapies that have made it possible to treat major illnesses that were not treated previously or were not treated as effectively. As the scope of available drug therapies expanded, spending on prescription drugs
    became the fastest-growing category of total spending on health care in the United States. Between 1994 and 2004, real (inflation-adjusted) spending on prescription drugs rose at an average annual rate of 11.1 percent, compared with 3.5 percent for hospital care and 4.3 percent for physicians’ services. More recently, however, that growth has slowed: From 2004 to 2007, drug expenditures grew
    by an average of just 3.2 percent per year, slightly less than the rate of growth in overall health care spending. As a fraction of total spending on health care, spending on prescription drugs rose from 6 percent in 1994 to around 11 percent in 2004, where it has remained.”

    • New Study on Internet Town Hall Meetings

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    “Congressional Management Foundation (CMF) and its academic research partners have released a report entitled Online Town Hall Meetings: Exploring Democracy in the 21st Century. The report summarizes findings and recommendations from conducting online town hall meetings between Members of Congress and their constituents.” Online Town Hall Meetings – Exploring Democracy in the 21st Century, October… Continue Reading

    New GAO Reports: Combating Illicit Financing, Law School Cost and Access, Influenza Pandemic, Medicare, Retirement Savings,

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    Combating Illicit Financing: Treasury’s Office of Terrorism and Financial Intelligence Could Manage More Effectively to Achieve Its Mission, GAO-09-794, September 24, 2009 Higher Education: Issues Related to Law School Cost and Access, GAO-10-20, October 26, 2009 Influenza Pandemic: Key Securities Market Participants Are Making Progress, but Agencies Could Do More to Address Potential Internet Congestion… Continue Reading

    GAO Report on Weaknesses in the Defense Acquisitions Process

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    News release: “Today, Congressman John F. Tierney (D-MA), Chairman of the Subcommittee on National Security and Foreign Affairs, issued the following statement about a newly-released Government Accountability Office (GAO) report he requested as part of his sustained oversight of U.S. defense procurement waste: The GAO report identifies an area of weapon systems procurement that still… Continue Reading

    CBO: Subsidizing Infrastructure Investment with Tax-Preferred Bonds

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    Subsidizing Infrastructure Investment with Tax-Preferred Bonds, October 2009 “To inform the Congress in its deliberations about federal infrastructure policy, this study assesses the role of tax preferences in infrastructure investment in the United States. It discusses the types of tax preferences for state and local bonds, reports the amount of such debt that has been… Continue Reading

    President Obama Signs Emergency Declaration for H1N1 Flu

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    October 24, 2009 – President Obama Signs Emergency Declaration for H1N1 Flu: “Section 1135 of the Social Security Act [42 USC §1320b–5] permits the Secretary of Health and Human Services to waive certain regulatory requirements for healthcare facilities in response to emergencies. Two conditions must be met for the Secretary to be able to issue… Continue Reading