What goes around, comes around…
GOP may find that drug program
may backfire says Newsweek editor

November 21, 2005—In what may be yet another sore spot for a beleaguered Bush Administration, Newsweek Contributing Editor Robert J. Samuelson warns that the so-called Medicare Prescription Drug Card Program about to take effect in January is ‘a calamity’.  

Samuelson points to several problems with the Plan, labeled Part D.

Not the least of these is the much talked-about and much written-about confusion caused by the many plans being offered by plan administrators and insurance companies. He also points out that the potential deficit contribution of $858 million over the period 2005 to 2015, has angered many conservatives who otherwise form the basis of Bush’s support. 

Added to this, Samuelson cites the fact that the deficits and the costs will detract from other issues such as covering ‘baby boomers’ retirement costs.’  

Daniel Hines, publisher of www.TodaysSeniorsNetwork.com, says that the editorial is a reflection of the growing realization of the fact that Part D is really nothing more than a payback to the large pharmaceutical companies.  Reports indicate that the implementation of the plan, coupled with pharmaceutical companies’ price increases will result in a windfall of nearly $18 billion in profits over the same period that the deficits are piling up—2005 to 2015. 

“Ironically, many of those same GOP Congressmen and Senators who not fret about the excessive profits, the damaging budget drain, and the failure to address other issues of aging caused by Part D have actually been the beneficiaries of millions of dollars of contributions from the pharmaceutical manufacturers industry,” Hines notes.  

“It will be interesting to see how they reconcile their support for Part D and their acceptance of large contributions from the pharmaceutical and insurance companies of the impending public dissatisfaction with Part D, “ Hines continues. 

The editorial appears in the Nov. 28 issue of Newsweek, now on the stands.  To read the editorial go to  http://www.msnbc.msn.com/id/10116334/site/newsweek/