President Obama Deals With Big Pharma

The big pharmaceutical company lobby helped kill then President Clinton’s health care reform plans in 1994. President Obama, desiring a different fate for his own health care reform package, has made a backroom deal with these same industry lobbyists.

Uh, is this the same Obama who promised to curtail the power of corporate lobbyists?

Yes, but…. (Doncha love the way I did that?) I imagine the administration figures it can’t win without the pharmaceutical lobby behind them, and if it loses on this one, the President’s approval ratings plummet.

The pharmaceutical companies have agreed to take a $80,000,000,000 hit over the next 10 years. This is a measure to cut drug costs.

If that sounds fishy, it probably is. Shave a few mill here, add a few bill there. The drug industry stands to gain, or they wouldn’t be brokering this deal in the first place. As you probably have guessed, we’re not dealing with a public charity.

This price cutting represents a small concession after a blockbuster of a deal for the pharmaceutical industry when they got a ban on Medicare negotiating lower drugs prices. This came from the Bush administration, but the Obama administration has agreed to continue it in exchange for support for the administration’s health reform agenda.

Another part of this deal is that President Obama has agreed to prevent the importation of lower priced drugs from Canada and Europe onto the American market. This is going back on an Obama campaign promise, but there is his health care reform to consider…of course.

A few things are clear now…American taxpayers are going to be paying for the Presidents health insurance reform, and some of the folks they will be paying for this reform have stock in drug companies.

If you were beginning to have a few doubts about the policy of bailing out incompetent and bankrupt, but iconic, American businesses, you may have even more doubts about this policy of working pharmaceutical company profits into your public health insurance package. With this kind of policy compromise, whoever benefits, it won’t be your average citizen.

I know…it’s a fine line he’s trying to walk. Hopefully he can get back to that average citizen eventually. We must have our health care reform, and our taxpayers will be paying pharmaceutical companies for it for some time to come. Sheesh!