Ralph Nader | Obama’s Surrender to Insurance and Drug Companies

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Ralph Nader (photo by John Murray)

By RALPH NADER

Never much of a fighter against abusive corporate power, Barack Obama is making it increasingly clear that right from his start as President, he wanted health insurance reform that received the approval of the giant drug and health insurance industries.

Earlier this year he started inviting top bosses of these companies for intimate confabs in the White House. Business Week magazine, which proclaimed recently that “The Health Insurers Have Already Won” reported that the CEO of UnitedHealth, Stephen J. Hemsley, met with the President half a dozen times.

These are the vendors. They and their campaign slush funds cannot be ignored in the power struggle over the legislation percolating in the Congress. One public result of these meetings was that the drug industry promised $80 billion in savings over ten years and the health insurance moguls promised $150 billion over the same decade. Mr. Obama trumpeted these declarations without indicating how these savings would be guaranteed, how the drug companies could navigate the antitrust laws and what was given to the health care industry by the White House in return.

We have now learned that one Obama promise was to continue the prohibition on Uncle Sam from bargaining for volume discounts on drugs that you the taxpayer have been paying for in the drug benefit program enacted in 2003.

(Ralph Nader photo by John Murray)

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Filed under American Politics, American Progressive Politics, Economics, Federal Budget, Health care | Insurance Issues, Obama Administration, The Obama Administration

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