Corporate Welfare – Sure

What most people don’t realize is the corporations that support ObamaCare are the ones who will benefit most from it. Major drug companies like Eli Lilly and Pfizer used their vast financial resources to back ObamaCare because of their slice of the financial pie. They managed to have inserted into the law provisions for a more expensive drug coverage that would include brand name drugs. This pushed premiums up as a result.

Democrats granted the big drug companies another plum. Department of Health and Human Services wrote into the law that ALL employer-sponsored health insurance must cover 100 percent of the cost of all prescription birth control. (Watch the Hobby Lobby case going to the US Supreme Court.) This is a big money maker for the pharmaceutical companies. It was a favor to the big drug companies for their financial support of Democrats who were facing tough races against Republicans.

Another favor granted to the big drug companies was a host of subsidies to enrich them. These subsidies are a payback by the Obama Administration for the companies support in the 2008 and 2012 elections.

The title for this blog comes from commentator stuartbramhall who called it the way she saw it. (See comments!) The only thing she left out was the political side of the law. It is not only corporate welfare but crony capitalism. The Obama Administration, not unlike other administrations, rewards its financial supporters. This situation is just one of a long list of paybacks by Obama. It is standard operating procedure for him and many other past presidents. In this case it is having a major impact on our economy because all health care insurance policies in the future must conform to the ObamaCare requirements. It will continue to push health care costs to new expensive levels. Unfortunately, the American people are the ones who are suffering as a result and will continue to suffer financially and medically in the future.

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About camden41

Retired public school administrator Retired history professor: Taught Western Civilization, American Civil War, United States History, Economic History, Ancient & Medieval Foundations, American History Since 1945
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