Jewish War Veterans of the United States of America

JWV SAYS INSURANCE INDUSTRY BAILOUT IS UNFAIR TO VETERANS

Summer 2007

On November 25, 2002, the President signed into law "The Homeland Security Act of 2002" (Public Law 107-296). "What most Americans don't know," said National Commander Dan Weiss, "is that a $100 billion bailout for the insurance industry was tucked away in the new law." The Administration claims that catastrophic insurance costs -- $36 to$54 billion -- of the September 11th terrorist attacks justify the handout. "The truth is, insurance companies held the government hostage by refusing to insure new construction projects," Weiss added. This is even more objectionable in light of the Administration's virtual moratorium on funding for VA medical facility construction. The same week the insurance industry was handed its $100 BILLION dollars, VA announced a mere $300 MILLION in new funds to improve VA medical facilities in the Great Lakes and surrounding areas. VA's new construction planning process, "CARES" (Capital Asset Realignment for Enhanced Services), is intended to better predict and plan for veterans' future health care needs and the construction projects necessary to meet those needs. The $300 million was the first result of CARES trial run in only one of VA's 21 medical regions or "networks". It will be another two years before "CARES" will know how much money is necessary to meet VA's construction needs in the rest of the country. In the meantime, veterans' hospitals and clinics in 20 networks receive nothing for their aging physical plant infrastructure. "Even if the other 20 networks received what they needed, hypothetically an average of $300 million each, that would amount to only $6 BILLION to shore up the Nation's health care system for those who served their country in uniform." Commander Weiss added. "This would be a paltry sum compared to the $100 billion just handed to the insurance industry on a silver platter," declared the Commander.

 

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