By Matt Hawes
Washington Examiner columnist and author Tim Carney once again expertly exposes the myth that ObamaCare is a victory against the health insurance industry. Rather, it is one of the biggest moves to strengthen drug lobbyists and empower insurance companies that has ever been pushed through Congress.
“Tonight,” President Obama intoned near midnight Sunday, after the House had passed two health care bills, “we pushed back on the undue influence of special interests. … We proved that this government — a government of the people and by the people — still works for the people.”
But even before the president spoke, the Pharmaceutical Researchers and Manufacturers of America — whose $26.1 million lobbying effort in 2009 was the most expensive by any industry lobby in history — hailed the health package as “important and historic.”…
Throughout March, as momentum built for passing the bill, and as Democrats adopted the mantra, “You’re either with the American people, or you’re with the insurance companies,” health insurance stocks climbed in tandem with the bill’s odds of passing. The health sector outperformed every other sector in the S&P 500 over the last month….
First, there’s the unsettling but unavoidable conclusion that our president is willing to deceive us if he thinks he can get away with it. He knew the drug makers were on his side — after all, he cut a private deal with top drug lobbyist Billy Tauzin. He also knew that the media would consider any big government proposal a blow to big business.
Second, showing who benefits most makes clear that this “reform” wasn’t designed to “work for the people,” as Obama claims. It works for the deep-pocketed companies who wrote it. Come January, you will no longer be able to buy over-the-counter medicines with your health savings account money — if you want the tax deduction, you’ll need to get more costly prescription drugs. That hurts customers and taxpayers while driving up health care spending — but it profits Big Pharma….
Read the rest. (Thanks to N.S.)