IRA and MFN: Two Sides of the Same Coin

“Will Mr. Biden still be crowing when the price controls he and Sen. Joe Manchin made a cornerstone of their [2022] ‘Inflation Reduction Act’ don’t work as touted? Will he still praise government price controls on Medicare pharmaceuticals when Bidenomics meets economic reality, as this experiment in socialized medicine plays out?”These are questions Locke’s Notebook asked in 2023. Back then, President Biden and Sen. Manchin were jubilant over having accomplished Bernie Sanders’ and Elizabeth War