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Home Publications Reports Growing Pain: The Expense of Drugs for the Elderly

Growing Pain: The Expense of Drugs for the Elderly

February 2003, Dean Baker and John Schmitt

The Congressional Budget Office (CBO) estimates that drug costs have risen 19.1 percent annually over the last eight years and expects them to rise 10.1 percent annually over the next decade. This paper assesses the extent of that burden by constructing projections for the increase in drug costs over the decade by income quintile of the elderly.

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