Now That’s Return on Investment!

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Even though we probably don’t get many senior citizens around here, Medicare is still an issue that bears attention. Over the last few months, there has been significant activity on that front. Congress passed the Medicare Prescription Drug Improvement and Modernization Act of 2003 in November. The announced budget cost was $395 billion, in no small part because 13 House Republicans (normally reliable administration backers) promised to vote against the bill if it was over $400 Billion.

Shortly after the President signed the bill into law, word came out that the vote was extended so that the Republican leadership could bribe a Congressman with campaign funds for his son. Next, the administration admitted that the actual cost of the bill was closer to $540 Billion than $400 Billion, or a 35% overrun.

The ante was upped in March when Medicare official Richard Foster announced that the plan had always cost $540 Billion and that his job was threatened if he went public with that fact.

Now that would seem like enough arm-twisting, corruption, blackmail and treachery for one bill. But if you’ve read this site for any length of time, you know there’s always more.

Since the bill’s passage, the administration has been running ads touting the “benefits” of the bill. The campaign (price tag $80 million) was developed by the President’s campaign ad chief. Congress’ investigative body, the GAO has found that the ads are deceptive and leave out key information. New 1115.org favorite Senator Frank Lautenberg said this week:

“You need a microscope to read the fine print that appears for a few seconds that reveals that you must pay an enrollment fee and that `exclusions apply,’” Lautenberg said. “The major `exclusion’ could be the drug you need; the card may not offer any discount for many medications.”

Administration watchdog David Sirota has been all over this story, and uncovered the fact that it would have only cost $58 million to create a department to oversee the reimportation of cheaper drugs from Canada.

So the administration would rather spend taxpayer money to advertise a broken program and protect the drug companies (big donors) than allow senior citizens to get affordable drugs.

Try to contain your shock and disappointment.