last week we learned that after extensive debate we were told that the Medicare bill would cost $400 billion to the taxpayers. We learned that the real number, and known all along, was $540 billion. Not a single benefit has been accrued to a senior citizen. Not a single prescription drug or reduction in cost has been accrued to a senior citizen, and yet the taxpayers are being asked to foot the bill not for $400 billion but for $540 billion. In the last 2 months since this Congress passed the prescription drug bill, three things have happened. First, the taxpayers have been asked to pay an additional $140 billion. Second, Mr. Scully, who is over at Health and Human Services and negotiated this bill, got a huge lobbying contract and became a lobbyist. And in today's Wall Street Journal, there was an article about Delphi gets boost in new drug law where they are able to write off $500 million in costs for health care for their seniors and retirees, and yet not a single new benefit from the Medicare bill. So we have one individual becoming a lobbyist, the taxpayers getting an additional bill of $140 billion, and corporate America gets to write off more of their health care costs. Not necessarily a bad thing, but seniors have to wait until 2006 to see any benefit at all, if there is one, from this legislation.
Editor's note · Context
Addressing the costs and implications of the Medicare prescription drug bill.
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