Retirees dumped off drug coverage

The news is bad, bad, bad these days. 

The Democrats in Congress argued that they would gain $5.4 billion in revenue by eliminating the tax break enacted in the 2003 Medicare Part D program as an incentive for businesses to keep their retirees out of the Medicare system.  Instead, they have given businesses a reason to dump their retirees out of the private networks and into the Part D system now.  Not only will the expected tax revenues never appear, but now we will have to spend a lot more money covering those prescriptions out of public funds.  The seniors in these programs will suffer most of all, as the Part D coverage is vastly inferior to the private plans offered by businesses in the private sector.