The Medicare Part D prescription drug bill, which might be the most corrupt piece of legislation in history, was a huge giveaway of taxpayer funds to the big pharmaceutical companies.
Sentiment: NEGATIVE
The one big strategic error - which was a political error and an economic error of grand proportions - was the prescription drug bill.
Recently, lobbyists for the pharmaceutical industry wrote a prescription drug bill that increased their profits and did nothing to help seniors. The result: seniors are stuck with a confusing prescription drug plan that does little to help them with their costs.
Drug company payments to doctors are a small part of a much larger strategy by Big Pharma to clean our pockets.
You're going to hear a lot from President Obama and yes, from Joe Biden, you're hearing a little bit about Medicare these days. What they will not tell you is they turned Medicare into a piggybank to fund 'Obamacare.' They took $716 billion dollars to pay for the 'Obamacare' program.
The reason prescription drugs are so important at the state level is because they're eating up the Medicaid budget.
President Obama's health care law raided Medicare in the tune of five hundred million dollars to create a new program.
I'd never have guessed that, six years after Medicare introduced a drug benefit, it would still be forbidden to negotiate prices with pharmaceutical companies. Health reform might fix that, but it probably won't.
Seven hundred and sixteen billion dollars, funneled out of Medicare by President Obama. An obligation we have to our parents and grandparents is being sacrificed, all to pay for a new entitlement we didn't even ask for. The greatest threat to Medicare is Obamacare, and we're going to stop it.
On Medicare, I would suggest ridding the system of fraud and bulk purchasing of prescription drugs, to begin with.
Fraudulent and improper payments have long bedeviled Medicare, a $466 billion program. In particular, payments for durable medical equipment, like power wheelchairs and diabetic test kits, are ripe for fraud.
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