Obamacare A Bonanza For Drug Companies, A Pain For the Public
A Black Agenda Radio commentary by Glen Ford
“Obama's dealmaking in the White House is nothing less than collusion with the cartel.”
President Obama is very good at talking “the language of the deal.” He made a deal with the the drug cartel this summer, ostensibly to keep drug prices down to reduce the overall cost of health care. The drug companies promised they would cut the prices they planned to charge by about $8 billion a year for the next ten years. Now an analysis for AARP shows the drug profiteers have actually raised prices by more than $10 billion in the last year, an increase of more than 9 percent and the biggest price hike in 17 years.
Good lookin' out out, Obama. Or should I say, Good job of selling out, Mr. President. The drug industry is so happy with the deal it cut with the White House, it's launching a $150 million advertising campaign to boost ObamaCare – a cheap price to pay for yet another Obama bailout of the ruling class, this time for Big Pharma.
At the same time that the industry was pushing up drug prices by 9.3 percent, the price of generic drugs declined by about 9 percent. That means the drug cartel, under cover of Obama's deal, transformed a downward trend in pharmaceutical prices into the biggest price surge since 1992.
And what else is the drug monopoly getting from the dealmaker in the White House? Thirty million new customers, served up on a platter under the banner of health care reform. This is bait-and-switch with a vengeance. When Obama is the dealmaker, “reform” translates into instant, unprecedented profits for the corporate sector. Under this administration, the words “reform” and “bailout” are virtually synonymous.
http://www.blackagendareport.com/?q=content/obamacare-bonanza-drug-companies-pain-public
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