Poor Mojo's Newswire

You know why, of course. They don't want a public option that would compete with private insurers and use its bargaining power to negotiate better rates with drug companies. They argue that would be unfair. Unfair? Unfair to give more people better health care at lower cost? To Pharma and Insurance, "unfair" is anything that undermines their profits.

So they're pulling out all the stops -- pushing Democrats and a handful of so-called "moderate" Republicans who say they're in favor of a public option to support legislation that would include it in name only. One of their proposals is to break up the public option into small pieces under multiple regional third-party administrators that would have little or no bargaining leverage. A second is to give the public option to the states where Big Pharma and Big Insurance can easily buy off legislators and officials, as they've been doing for years. A third is bind the public plan to the same rules private insurers have already wangled, thereby making it impossible for the public plan to put competitive pressure on the insurers.

“It’s the combined taxidermist and veterinarian approach: either way you get your dog back,” says David Himmelstein, an internist at the Harvard Medical School and co-author of a letter published in this week’s issue of the New England Journal of Medicine.

The largest tobacco investor on the list, the 160-year old Prudential company with branches in the US and the UK, has more than $1.5 billion invested in tobacco stocks. The runner-up was Toronto-based Sun Life Financial, which apparently holds over $1 billion in Philip Morris (Altria) and other tobacco stocks. In total, seven companies that sell life, health, disability, or long-term care insurance, have major holdings in tobacco stock.

The proposed cuts, which were to be sent to the White House on Thursday, bear little resemblance to the dramatic proposals Republicans unfurled when they took over Congress 14 years ago.

Rather than proposing, for example, the elimination of the Education Department, as they have in the past, Republicans are suggesting killing a program that pays for building sidewalks, bike paths and crossing guards as part of the Safe Routes to Schools program. That would save $183 million a year.

In a speech for the Heartland Institute yesterday, Sen. James Inhofe (R-OK) said that the Senate could just “stall” any EPA regulation:

INHOFE: Don’t be distressed when you see the House passes some kind of cap-and-trade bill. And you know it could be worse and she could still pass it, so it’ll pass there. The EPA has threatened to regulate this through the Clean Air Act. That isn’t going to work in my opinion because we can stall that until we get a new president – that shouldn’t be a problem.