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McCain's Dangerous Plan to Remove Protections from Health Insurance Market Will Put Americans' Health Care at the Mercy of Wall Street
Monday, September 22, 2008
FOR IMMEDIATE RELEASE
Sept. 22, 2008
CONTACT: Scott Jordan 225-336-41553
McCain's Dangerous Plan to Remove Protections from Health Insurance Market Will Put Americans' Health Care at the Mercy of Wall Street
In Spite of Disastrous Consequences of Removing Protections on Wall Street, McCain Argues for More of the Same for the Health Insurance Market
In spite of the unprecedented economic crisis created by Bush-McCain policies that freed the banking and lending industry from vital protections for the American people, John McCain wants to put Americans' health care at the mercy of Wall Street. Just days after claiming that "the economic fundamentals are strong" while Americans' savings and retirement accounts yo-yoed with the struggling stock market, an article penned by McCain himself is running in the latest edition of the magazine Contingencies, in which McCain argues for more deregulation - for health care.
According to McCain, "Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation." The article highlights that John McCain's plan for the economy and for health insurance means more of the same deregulation and failed Bush economic policies that have created today's economic crisis, leaving Americans to struggle.
Today, Senator Obama is delivering a major
policy address to lay out his plan to reform
the greed and excesses of
"Clearly John McCain not only doesn't get
it, he can't be trusted to protect the middle
class and prevent another crisis in the
future," says
McCain's article arguing for the removal
of vital protections on the health insurance
market is only the latest chapter in a long
history of supporting deregulation. After
facing widespread criticism over his
out-of-touch statement that the economic
'fundamentals' are strong on Monday, McCain
tried to revise his 26-year history of opposing
regulations, claiming that he's for " strong
and effective regulation." But McCain has
consistently supported deregulation in all
forms and even bragged in March, "I am
fundamentally a deregulator. I'm always for
less regulation." McCain's article advocating
the deregulation of health insurance markets is
the newest proof that, despite what he says on
the campaign trail, McCain will continue push
more of the same disastrous deregulation
policies in every sector, from the economy to
health care to the privatization of Social
Security.
"Amazingly McCain wants to do for healthcare what he and his chief economic adviser, Phil Gramm, have already done for the financial sector,” says Loftin. “We've all seen that their radical deregulation of the financial industry has been a disaster. Louisianans can't afford four more years where they extend their failed approach to health care."
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