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/