Former House Speaker New Gingrich (R-Ga.), a likely 2012 presidential candidate, told CNSNews.com today that he does not regret supporting the enactment of the Medicare prescription drug plan which now presents the federal government with a $7.2 trillion unfunded liability.
An unfunded liability is a benefit the federal government has promised to pay that is not matched by tax revenue to fund it and thus represents an anticipated increase in the national debt.
Maybe he owns pharmaceutical industry stocks.
Setting American taxpayers up to foot the bill for covered drugs while specifically forbidding the Medicare program from bargaining for lower high-volume prices was a scam of epic proportions.
No Bargain: Medicare Drug Plans Deliver High Prices
*New Gingrich?..