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August 14, 2009 at 11:27:18

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Promoted to Primary Headline on 8/14/09:

Obama on Drugs: 98% Cheney?

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By Greg Palast (about the author)     Page 1 of 2 page(s)

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For OpEdNews: Greg Palast - Writer

I searched all over the newspapers and TV transcripts and no one asked the President what is probably the most important question of what passes for debate on the issue of health care reform: $80 billion of WHAT?

On June 22, President Obama said he'd reached agreement with big drug companies to cut the price of medicine by $80 billion. He extended his gratitude to Big Pharma for the deal that would, "reduce the punishing inflation in health care costs."

Hey, in my neighborhood, people think $80 billion is a lot of money. But is it?


I checked out the government's health stats (at HHS.gov), put fresh batteries in my calculator and totted up US spending on prescription drugs projected by the government for the next ten years. It added up to $3.6 trillion.

In other words, Obama's big deal with Big Pharma saves $80 billion out of a total $3.6 trillion. That's 2%.

Hey thanks, Barack! You really stuck it to the big boys. You saved America from these drug lords robbing us blind. Two percent. Cool!

**************************
ALERT

Now it's Let's Make a Deal with hospital lobbyists.

First, the President was caught with his principals down, cutting a scuzzy back-room deal with pharmaceutical lobbyist Billy Tauzin to limit drug price savings to just 2% over 10 years (see attached, "Obama on Drugs: 98% Cheney?"), the New York Times today reports that another deal was sealed by lobbyist Chip Kahn of the American Hospital Association.

Here are the numbers they don't want you to see: Hospitals will be allowed to hike their prices and revenues by six trillion dollars ($5,853 billion) over the next ten years, only $155 billion less than they had projected before the Obama "reform."

In all, the Obama back-room deal will "reduce" our $26 trillion total hospital bill over the next decade by one-half of one percent.

Once again, the lobbyists got the gold mine, the public got the shaft.

Say it ain't so, Mr. President.

***************************

For perspective: Imagine you are in a Wal-Mart and there's a sign over a flat screen TV, "BIG SAVINGS!" So, you break every promise you made never to buy from that union-busting big box - and snatch up the $500 television. And when you're caught by your spouse, you say, "But, honey, look at the deal I got! It was TWO-PERCENT OFF! I saved us $10!"

But 2% is better than nothing, I suppose. Or is it?

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http://www.gregpalast.com

Greg Palast, winner of the George Orwell Courage-In-Journalism Prize, is the author of the New York Times bestsellers The Best Democracy Money Can Buy and "ARMED MADHOUSE: (more...)
 

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Swine Flu scam by Michael Lee on Friday, Aug 14, 2009 at 11:16:41 PM
Will the Fleecing of Americans Ever End by August Adams on Friday, Aug 14, 2009 at 11:38:14 PM
No!!! Emphatically! by boomerang on Saturday, Aug 15, 2009 at 2:03:50 PM
Great analysis! by Nathan Nahm on Saturday, Aug 15, 2009 at 12:31:20 AM
Obama does indeed fit the Joker meme by richard on Saturday, Aug 15, 2009 at 7:21:54 AM
They learned from Congress! by Starbuck on Saturday, Aug 15, 2009 at 12:07:05 PM
Who has bigger addiction problems? by Stanimal on Saturday, Aug 15, 2009 at 3:01:30 PM
The way to fight back is refuse anything from big pharma. by Mel Smith on Saturday, Aug 15, 2009 at 11:58:34 PM
Genius by Perry Logan on Sunday, Aug 16, 2009 at 6:05:57 AM
Reality of the pharmaceutical industry by sesquiculus on Sunday, Aug 16, 2009 at 8:01:23 AM
Additional Observations by Scott Baker on Monday, Aug 17, 2009 at 1:51:17 AM

 
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