On the recordJanuary 21, 2004
in last year's State of the Union address, President Bush called Medicare ``the binding commitment of a caring society.'' Last night in his State of the Union address, the President said the Medicare prescription drug bill that was enacted last year ``kept a basic commitment to our seniors.'' The new Medicare law kept a basic commitment all right, but as the tens of thousands of seniors who have quit AARP would likely agree, the commitment was not to America's seniors. The new Medicare law means an additional $139 billion in profit to the drug industry over the next 8 years. The President did fulfill his commitment, a commitment he had to the drug industry. The new Medicare bill the President signed means an additional $14 billion in subsidies to the insurance industry over the next 10 years, again a commitment the President fulfilled to his insurance company backers and contributors. But the President's commitment meant virtually nothing to seniors, many of whom will not have access to any benefit until 2006 and after that will have access to only a very inadequate drug benefit. The new benefit will cover less than half of a senior's drug costs. The average senior would do better traveling to Canada to purchase her prescription drugs. Of course the Bush administration has been busy pressuring Canadian pharmacies to stop selling medicine to American consumers. Again, the President's commitment to the drug companies won out.…
Source
govinfo.gov




