The last president added the huge entitlement of prescription drug coverage, without adding a penny in revenue to pay for it. The incremental expense over the first ten years was scored to exceed $500B (before passage of the bill), then $700B+ (just after passage) and now $1T+. One of the provisions of the bill was that the Federal Government could NOT negotiate with the drug companies for discounted pricing. Imagine that - governments all over the world negotiate the best deal, as do private companies. Only one customer - the largest in the world - is prohibited from negotiating a discount. Thank you, George W Bush and the Republican Congress.
Tell me - who was more concerned with taxpayer dollars? Whose first priority rested with all of us - the taxpayers - and who looked out for someone else? Glance at the scoreboard and you shall see.
2 comments:
We did not side with Hedge funds.
We side with the rule of law, contracts and minimal government intervention.
Conservatives=free markets
Liberals=Government management.
I side with rule of law, contracts, and as much government involvement as is necessary in an economic crisis. I am in good company - GWB provided the first lifeline as he could not let the auto industry collapse on his watch.
Conservatives = Free Markets with Laissez Faire Rules
Liberals = Free Markets with Keynesian Rules
The was an excellent piece in WSJ yesterday describing the Chrysler/Hedge Fund battle that essentially repeated what I have been saying all along. I didn't link it here as it required a subscription to read the whole article.
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