Thursday, September 19, 2013

(Related Update): Revolving Door: The Obamacare Version

Related Update:  The NYTimes ran an article on this topic yesterday that, to their credit, included these passages:
The health care industry now spends more money on lobbying in Washington than any sector of the economy — more than $243 million last year alone, slightly higher than the $242 million spent by financial, insurance and real estate companies, according to the Center for Responsive Politics here.
Of the “revolving door lobbyists” profiled by the center, those specializing in health care account for 12 percent, more than any other economic sector.
Critics say these former officials are cashing in, trading on the relationships and expertise they acquired while working for the taxpayers, and cite such career moves as proof that Mr. Obama has not lived up to his promise to change the culture of influence peddling in the capital.
It's a typical NYTimes human interest story: interesting, well-written, and liberal.  Still, worth a look.

Original Post:  As I noted in a previous OLS post, the revolving door
refers to the eons-old method of cashing in on political influence.  Those who have accumulated power and influence in DC commonly move into the corporate sector and rake in the big money by using their political connections, knowledge, and power on the firms' behalf.  So, on Friday, they work in the political sphere; on Monday, they're back in DC -- only now they're working the system on behalf of their corporate employers.
In this particular instance, the revolving door involves former Obama bureaucrats and politicians who helped craft and promote Obamacare, thirty of whom are now in the private sector working for lobbying firms and earning big bucks for their insider connections and political pull.  As reported by The Hill this morning:
ObamaCare has become big business for an elite network of Washington lobbyists and consultants who helped shape the law from the inside.

More than 30 former administration officials, lawmakers and congressional staffers who worked on the healthcare law have set up shop on K Street since 2010.

Major lobbying firms such as Fierce, Isakowitz & Blalock, The Glover Park Group, Alston & Bird, BGR Group and Akin Gump can all boast an ObamaCare insider on their lobbying roster — putting them in a prime position to land coveted clients.
Disgusting.