When President Obama wanted to push health care reform, he didn’t make the same mistake as his fellow liberals had in the past. He didn’t attack or ignore big business. Instead, he sought to engage these “stakeholders.”
Mandating that citizens must purchase health insurance (with no public option) was obviously a financial winner for the insurance companies. That box was easily enough checked. But the White House’s collusion with the pharmaceutical industry was perhaps an even more impressive gambit.
As The Wall Street Journal reported last year, “The drug makers worried that health-care reform would revert to the liberal default of price controls and drug re-importation that Mr. Obama campaigned on, but they also understood that a new entitlement could be a windfall as taxpayers bought more of their products.”