Sunday, November 8, 2009

A Bailout Under a Blue Cross

Who Said They'd Vote No on a Healthcare Bill This Bad in July, And Who Lied from

Kucinich: Why I Voted NO

Washington D.C. (November 7, 2009) – After voting against H.R. 3962 - Affordable Health Care for America Act, Congressman Dennis Kucinich (D-OH) today made the following statement:

“We have been led to believe that we must make our health care choices only within the current structure of a predatory, for-profit insurance system which makes money not providing health care. We cannot fault the insurance companies for being what they are. But we can fault legislation in which the government incentivizes the perpetuation, indeed the strengthening, of the for-profit health insurance industry, the very source of the problem. When health insurance companies deny care or raise premiums, co-pays and deductibles they are simply trying to make a profit. That is our system.

“Clearly, the insurance companies are the problem, not the solution. They are driving up the cost of health care. Because their massive bureaucracy avoids paying bills so effectively, they force hospitals and doctors to hire their own bureaucracy to fight the insurance companies to avoid getting stuck with an unfair share of the bills. The result is that since 1970, the number of physicians has increased by less than 200% while the number of administrators has increased by 3000%. It is no wonder that 31 cents of every health care dollar goes to administrative costs, not toward providing care. Even those with insurance are at risk. The single biggest cause of bankruptcies in the U.S. is health insurance policies that do not cover you when you get sick.

“But instead of working toward the elimination of for-profit insurance, H.R. 3962 would put the government in the role of accelerating the privatization of health care. In H.R. 3962, the government is requiring at least 21 million Americans to buy private health insurance from the very industry that causes costs to be so high, which will result in at least $70 billion in new annual revenue, much of which is coming from taxpayers. This inevitably will lead to even more costs, more subsidies, and higher profits for insurance companies — a bailout under a blue cross.

“By incurring only a new requirement to cover pre-existing conditions, a weakened public option, and a few other important but limited concessions, the health insurance companies are getting quite a deal. The Center for American Progress’ blog, Think Progress, states “since the President signaled that he is backing away from the public option, health insurance stocks have been on the rise.” Similarly, healthcare stocks rallied when Senator Max Baucus introduced a bill without a public option. Bloomberg reports that Curtis Lane, a prominent health industry investor, predicted a few weeks ago that “money will start flowing in again” to health insurance stocks after passage of the legislation. last month reported that pharmacy benefit managers share prices are hitting all-time highs, with the only industry worry that the Administration would reverse its decision not to negotiate Medicare Part D drug prices, leaving in place a Bush Administration policy.

I like Kucinich. I just wish he'd leave that awful party.

The last line is telling. Yet again, the Democrats leave 'in place a Bush Administration policy'. Isn't it obvious that this is the function of today's corporate-owned Democrats? When the Republican brand crashes and burns from giving too much to corporations, the Democrats take power and protect and defend those policies from change.

From war to wall street, from homeland security to health care, from domestic spying to defense budgets, what we've seen repeatedly from the Democrats is that they are protecting Bush policies. And expanding them where possible.

This is what you get when you vote Democrat. I like Kucinich. But he's a black sheep in his party. His party leaders, the ones who are passing this paen to the big health corporations, tried to kick Kucinich out of Congress last year by running a pro-corporation primary challenger against him.

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