13 Feb

The Smear & The Truth

The Smear:

“The health-care industry is the largest employer in the U.S. It produces almost 17 percent of the nation’s gross domestic product. Yet the bill treats health care the way European governments do: as a cost problem instead of a growth industry. Imagine limiting growth and innovation in the electronics or auto industry during this downturn. This stimulus is dangerous to your health and the economy.”

By Betsy McCaughey,  former lieutenant governor of New York and is an adjunct senior fellow at the Hudson Institute.

The Truth



Ideology may not be the only factor driving Betsy McCaughey’s propaganda campaign against two health care provisions in the stimulus bill. As Health Care Renewal points out, “not noted in Betsy McCaughey’s op-ed article was that she is currently on the board of directors of Cantel Medical, a device company, and formerly on the board of Genta, a biotechnology company.” In fact, according to a Statement of Changes in Beneficial Ownership Securities from the Securities and Exchange Commission, McCaughey received 750 Shares of stock options just days before writing the Bloomberg op-ed. Then, the total worth of the shares was approximately $11,250:………………………………………

And indeed, Big Pharma — which, incidentally, bankrolls Betsy McCaughey’s Hudson Institute — currently instructs doctors on the effectiveness of medications,  and opposes research that could persuade physicians to eschew ineffective or unnecessary treatments. Fewer prescriptions translate into lower profits and the industry has lobbied hard to pare down the cost effectiveness language in the House version of the stimulus bill.

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