There's nothing like the sight of Republicans and Democrats working together and scrambling to save big time government aid to super-rich corporations. Whether it's a bailout for major banks, tax credits for Big Oil, or big subsidies for large agriculture businesses, this kind of crony capitalism seems to anger almost everyone but nobody really does anything about it.
Now, we're about to witness another scramble to provide our hard-earned taxpayer money into the pockets of an industry that's already raking in the big bucks. The Senate Health Committee is going to hold hearings in September to find ways to keep the Obamacare subsidies sent to health insurance companies alive so the insurance exchanges don't implode as so many people are predicting.
And the preservation of those payouts to the super-profitable insurers is a pretty good bet considering even the Republicans couldn't round up 50 votes to repeal Obamacare and do what they had promised for seven years running. It's also a good bet because the pressure is rising to save Obamacare from all sides. There's even a warning from some liberal advocates not to dare call the insurance subsidy preservation effort a "bailout" because it's such a loaded term and it's the people we'll be bailing out and not some rich CEOs after all, right?
Whatever happened to those familiar Democratic Party mantras of "paying their fair share" and "those millionaires and billionaires don't need our money!" Whatever happened to familiar quasi-socialist/left wing calls for price controls? We certainly hear all of the above when it comes to Big Pharma for one thing. And why is the insurance industry getting not just a pass, but an enthusiastic, code red style, protection? In other words, the government has provided the big insurance companies with a policy that's led to massive profits for their industry. Why isn't anyone in a major leadership position, even a Democrat, responding to this problem by demanding those same insurers give something back and accept slimmer profits to keep the exchanges alive?