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Three years ago, President Obama cut a secret deal with pharmaceutical company lobbyists to secure the industry’s support for his national healthcare law. Despite Obama’s promises during his campaign to run a transparent administration, the deal has been shrouded in mystery ever since. But internal emails obtained by House Republicans now provide evidence that a deal was struck and GOP investigators are promising to release more details in the coming weeks.
The bad news for ObamaCare’s proponents? ObamaCare won’t help contain health costs, as the president so often claimed while lobbying for passage of his reform package. Instead, it will exacerbate them. Remember his oft-repeated statement that his plan would “cut the cost of a typical family’s premium by up to $2,500 a year.” As the CBO rightly explained, premiums will rise by $2,100.