This is why Gov should stay out of private industry

[Freedom4all]

Two months ago the POTUS and his Democratic allies announced with great fanfare a health care breakthrough, a deal with the pharmaceutical industry that will save $80 billion dollars.

"The agreement reached today to lower prescription drug costs for seniors will be an important part of the legislation I expect to sign into law in December," Obama said in a statement this afternoon. "This is a tangible example of the type of reform that will lower costs while assuring quality health care for every American."

The $80 Billion itself was bogus number, $30 billion (over 10 years) of it was real, the $50 billion remaining goes into the "trust me" category. Therefore the truth of the matter is, there was no $80 billion in savings, the real number is $30 billion. But it gets worse, Jake Tapper has done a little more investigation and found what was really behind the deal. The President got his win, a PR stunt to make Obamacare look like it had the support of the pharmaceutical industry, and the pharma industry got a promise that no Obamacare legislation would ask for any more than that $80 billion from the pharmaceutical industry:

What Did The White House Know About the PhRMA Deal?
By Jake Tapper

Excerpt:

In June, the Senate Finance Committee and the White House jubilantly announced that they'd come to a deal with the pharmaceutical industry. But as details of that deal have come out, the White House has issued mixed and conflicting messages as to what they knew and what they'd signed off on.

At the time, Sen. Max Baucus, D-Mont., chair of the Senate Finance Committee, announced that pharmaceutical companies had agreed to a deal as part of an overall health care reform package, where the companies will provide, as Baucus put it, "affordable prices on prescription drugs when Medicare benefits don't cover the cost of prescriptions," as well as kicking in some money for health care reform efforts.

President Obama said in a paper statement that "the agreement reached today to lower prescription drug costs for seniors will be an important part of the legislation I expect to sign into law in December. This is a tangible example of the type of reform that will lower costs while assuring quality health care for every American."

Guess who's gonna get burned on end of this and who's gonna have to pick up the tab? Yes the consumer and taxpayers at the same time. Lovely.