Money Well Spent

Money Well Spent

Last week the Bush Administration quietly announced that Medicare premiums will be rising by a whopping 17 percent-the largest increase in the history of Medicare. This increase will not result in any increase in services or benefits - instead, it will line the pockets of Bush's biggest campaign donors. While millions of seniors will struggle to come up with the extra money to pay for these increases, corporate fat cats have already begun to rake in the cash under the new Medicare law. Furthermore, the increase will do nothing to help make prescription drugs more affordable. The truth is that the health care industry spent more than $140 million on lobbying in 2003 to ensure its profits were protected in the Medicare law, while the insurance industry has given President Bush and his friends in Congress more than $70 million in campaign contributions since 2000.Apparently their money was well spent.