Obama's Voodoo Health Economics

Basic message: Obama is lying about this too.
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One aspect I haven't seen covered yet is prescription drugs. Americans pay much more for prescription drugs because our prices include the price of research and development for new drugs. Our higher price for health care includes the American health care system paying for innovation that Europeans benefit from for free. Since this cost is not taken into account it is dishonest to compare the amount spent per year per citizen.