Obama Still Peddling 2 Trillion in Savings Lie

In announcing the deal for 80 billion the President repeated the lie about 2 trillion in savings. Something the Health care industry did not commit to.

The drug makers also have agreed to pick up some of the costs of the president's plan to remake the nation's healthcare system, legislation he hopes Congress will pass this year.

"The agreement by pharmaceutical companies to contribute to the health reform effort comes on the heels of the landmark pledge many health industry leaders made to me last month, when they offered to do their part to reduce health spending $2 trillion over the next decade," Obama said in a statement Saturday afternoon

What actually happened:

WASHINGTON — Hospitals and insurance companies said Thursday that President Obama had substantially overstated their promise earlier this week to reduce the growth of health spending.Mr. Obama invited health industry leaders to the White House on Monday to trumpet their cost-control commitments. But three days later, confusion swirled in Washington as the companies’ trade associations raced to tamp down angst among members around the country.

After meeting with six major health care organizations, Mr. Obama hailed their cost-cutting promise as historic.“These groups are voluntarily coming together to make an unprecedented commitment,” Mr. Obama said. “Over the next 10 years, from 2010 to 2019, they are pledging to cut the rate of growth of national health care spending by 1.5 percentage points each year — an amount that’s equal to over $2 trillion.”

Health care leaders who attended the meeting have a different interpretation. They say they agreed to slow health spending in a more gradual way and did not pledge specific year-by-year cuts. "There’s been a lot of misunderstanding that has caused a lot of consternation among our members,” said Richard J. Umbdenstock, the president of the American Hospital Association. “I’ve spent the better part of the last three days trying to deal with it.”

This also the same incident where the President "Misspoke":

“There’s been a lot of misunderstanding that has caused a lot of consternation among our members,” said Richard J. Umbdenstock, the president of the American Hospital Association. “I’ve spent the better part of the last three days trying to deal with it.”

Nancy-Ann DeParle, director of the White House Office of Health Reform, said “the president misspoke” on Monday and again on Wednesday when he described the industry’s commitment in similar terms. After providing that account, Ms. DeParle called back about an hour later on Thursday and said: “I don’t think the president misspoke. His remarks correctly and accurately described the industry’s commitment.”

You were right the first time. The deal itself, orchestrated by Max Baucus consists mostly of extending discounts on prescriptions for seniors. The companies "Big Pharm" to the left decided it was wiser to get on board then oppose, Baucus who is opposed to the public plan cleary wants as much industry on board as allies and partners for his version of health care reform.