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URL:  http://boards.fool.com/loosen-fda-regulations-on-drugs-new-medicines-30687507.aspx

Subject:  Re: smaller government, DrB? Date:  5/16/2013  3:17 PM
Author:  Goofyhoofy Number:  423088 of 445764

Loosen FDA regulations on drugs. New medicines should have to only perform as well as old ones, not better.

There is no FDA requirement that drugs have to perform "better than" old ones, indeed, drugs are allowed on the market which do exactly that. However because the approval process is long and costly, companies may not find it economical to undertake the process if their drug is only "as good as" what's already available. That is a different thing, however, and changing it would require having the FDA significantly loosen the approval process all around. That might not be what you really want.
http://www.forbes.com/sites/johnlamattina/2013/05/10/the-fda...

End the War on Drugs. If we need to make some drugs illegal, make the scheduling be data-based, using something like this:
http://en.wikipedia.org/wiki/File:Rational_scale_to_assess_t...


Clearly we've screwed the drug thing up, but I don't think making tobacco illegal and ectasy legal is exactly the answer. The theory needs a lot of work.

Subsidies. Repeal the subsidies. Subsidies for agriculture, green and not-so-green energy, employer-provided health insurance, etc., etc. Get rid of them all.

Nuclear power would not be nuclear power without subsidies, both implied and overt. Oil gets a massive subsidy in the form of "armed services", how do you end that? Electricity: Hoover Dam, TVA, Grand Coulee, Niagra Falls and hundreds more. How did those get started without subsidies? Railroads? About half built with subsidies, which created a transit infrastructure that propelled the US into a major economic power.

Green energy is coming, unfortunately the technology is mostly coming from China and other places where the government is providing subsidies. If you want to have your economy play in the future, maybe you need some subsidies in the present to get things going. Where would the internet be without all that initial government research? How about satellite communications? GPS?

Education. Give states more control over K-12 education

And when Mississippi decides to put religious curriculum in public schools, then what? When Louisiana's school boards decide evolution is bunk and the Bible has it right, then what?

By removing the loss protection and making student loans dischargeable, you incentivize lenders to lend wisely.

The reason the Federal Government is in the loan business is because students couldn't get them - unless their parents would secure them. That left 2/3 of the country out of luck for higher education - but we saw what great things can happen when people do get a degree: with the GI Bill in the 1950's. Banks won't loan to people who are risky and who don't have assets. Simple economic fact.

Phase out Medicare Part D. Switch from Obamacare (employer mandate for health insurance) to an individual health insurance mandate, but keep all the rules that stop insurers from dropping you on a dime. Because of EMTALA, we need a mandate, sure, but I think we can do better than the system we've got.

How about just Medicare for everybody? It works for tens of millions of people; it's easy, it eliminates overhead, it's efficient. Oh, the horror: it's a BIG GOVERNMENT program. Then again so is the Interstate Highway System and the Navy, but nobody says we ought to eliminate those.

Retirement / SS. Slowly raise the official retirement age until the future projections for Social Security stabilize.
Make SSDI more like an actual insurance program.


It already is. Everybody pays in, only survivors get paid back out.

Where I want bigger government:

- If you're going to create a regulatory agency and give them responsibility, for the love of God, give them enough money to do their jobs. The SEC and IRS are badly underfunded, and giving them more money will result in more revenues for the federal government.
- Greatly expand funding of basic research in science, technology, engineering, and math.
- Expand funding of Planned Parenthood. Heck, I'd give out free contraception, including IUDs. There's almost nothing as unhealthy for society as an unplanned, unwanted child.


On most of this we agree.
 

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