Those Profiteers Bearing Gifts -- NOT!

The "promise" was a big one:  $2 trillion in 10 years.   Officers from six health industry lobbying organizations stood behind the President, proudly nodding their heads up and down as he proclaimed their agreement to voluntarily reduce costs by 1.5 percentage points each year for 10 years.  

It's all there in this video.  The White House website posted red-white-and-blue charts illustrating the savings.  

But now we learn that they had their fingers crossed, according to the New York Times.  The President of the American Hospital Association was in the dog house big time when he went back to the office and began fielding calls from irate members.  Another officer of that organization issued a statement clarifying:  "No such reform plan exists at this time."  [Outright denial by officer running for cover].

Karen M. Ignagni, president of America’s Health Insurance Plans, told the New York Times that "the savings would 'ramp up' gradually as the growth of health spending slowed" [hedge, hedge by lobbyist experienced in double-talk].  David H. Nexon, senior executive vice president of the Advanced Medical Technology Association, a trade group for makers of medical devices, said the lower growth rate was a "target over a 10-year period,” [fudge, fudge by another lobbyist accustomed to "reframing" the truth] according to the New York Times.

I was pretty disappointed when I heard that the White House was rolling out the red carpet for lobbyists and trumpeting these supposed voluntary "promises" as game changers.   Mr. President, you got burned.