Add this Page to Facebook!   Submit to Twitter   Submit to Reddit   Submit to Stumble Upon   Pin It!   Fark It!   Tell A Friend  
Printer Friendly Page Save As Favorite Save As Favorite View Article Stats
3 comments

OpEdNews Op Eds

Was Obama 'Conned' by Big Pharma or Is He Just Running a 'Protection Racket'?

By (about the author)     Permalink       (Page 1 of 1 pages)
Related Topic(s): ; ; ; ; , Add Tags Add to My Group(s)

Well Said 1  
View Ratings | Rate It

Headlined to H4 8/9/09

opednews.com

Slate's Tim Noah has all the grisly details of how the White House has caved in to the Billy Tauzin and the pharmaceutical industry in the complex, intense bartering over health-care "reform."

By agreeing to lower prescription costs for seniors by $80 billion, Big Pharma won a key concession from Barack Obama's crew: The drug industry would not have to endure additional pressure from Congress for more savings. Some estimate that Big Pharma got off extraordinarily easy.

Lefties are howling about it, and so are many conservatives. That might mean that Obama's doing the right thing, but it might also mean that he's running a protection racket. It sure as sh*t looks like one.

The health-care system may not work, but the lobbying system does. Former congressman Tauzin is the chief Big Pharma guy, and apparently a pretty good one. So far, the drug companies look like the health sector's winners in the reform negotiations.

More on this from American Public Media's Marketplace.

Predictably (to say the least), the Nation tabs this "A Rancid Deal With Big Pharma." But it takes the people at the Cato Institute to get to the point of just how great a deal this is for the drug industry and just how bad it is for the public. Of course, the way Cato's Michael F. Cannon portrays it, Obama's operating a protection racket. Cannon has an excellent point. Speaking of all the deals that Obama's crew is cutting with various industries and companies in these health-care negotiations, he writes:

Each agreement was negotiated behind closed doors, away from public scrutiny. All are contingent on the favored groups getting something they want, and all "savings" could be undone by future lobbying. To paraphrase George Bailey, the industry isn't selling - the industry is buying.

President Obama's idea of health care reform is to give the federal government sweeping new powers to dictate what Americans will purchase and how much they will pay. If you want to know who will benefit from that approach, who will pay and who will be pulling the strings, the president is doing his best to show you.


 

http://www.thesmartasset.com/

Ward Harkavy is currently Senior Editor at the Village Voice, for which he writes The Smart Asset.
Add this Page to Facebook!   Submit to Twitter   Submit to Reddit   Submit to Stumble Upon   Pin It!   Fark It!   Tell A Friend
The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact Author Contact Editor View Authors' Articles

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

CIT Bankruptcy: Taxpayers Stiffed on Company's Bailout Billions While Execs Reap Bonuses

Fort Hood's Killer Shrink: Was He One of the Army Docs Pressured to Misdiagnose PTSD in Soldiers?

Pocket Rockets: The 10 Highest-Paid CEOs of 2008

Bank Robs You: Chase's Hefty Profits Put Lie to Claim That Consumers Have to Spend More to End the Recession

Israeli-American fraudsters swindled tens of millions from IRS, say Israeli cops

Was Obama 'Conned' by Big Pharma or Is He Just Running a 'Protection Racket'?

Comments

The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
3 people are discussing this page, with 3 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

MIPIC:MEDICAL INSURANCE PHARMACEUTICAL INDUSTRIAL ... by liecatcher on Sunday, Aug 9, 2009 at 4:43:29 PM
Historians will call Obama's the Bait & Switch... by Perry Logan on Monday, Aug 10, 2009 at 5:35:55 AM
Of course, you are right. Please read my post "Hea... by Walt Goodpastor on Monday, Aug 10, 2009 at 6:41:58 PM