Cap on Medicare drug benefits proposed

A week ago I predicted major pressure on the Medicare drug benefit by the 2006 election cycle. It may be coming sooner. According to Modern Healthcare:

Two Republican senators introduced a bill that would limit the cost of the Medicare prescription drug benefit to $395 billion over 10 years, the initial Congressional Budget Office estimate for 2004 to 2013...The bill, sponsored by Sens. Lindsey Graham (S.C.) and Jeff Sessions (Ala.), would establish annual spending caps and require that the benefit be reduced if its cost exceeded the annual limit.