Caution!! Reality Check Ahead!! Obamacare Paid Out $2 Billion to Corporations

It can't be, can it? Just one of those tricky little hidden items that Nancy Pelosi warned us about. It only took a team of investigators to find it!!

A little-known provision in the Obamacare legislation has sent $2 billion to corporations, unions and state public employee systems to subsidize health coverage for retirees.

At the current rate, the government could blow through the entire $5 billion budgeted for the program before it is set to end, Byron York of The Washington Examiner reported.

The discovery by investigators for the House Energy and Commerce Committee was made just before a hearing to focus on Center for Consumer Information and Insurance Oversight, which is part of the Department of Health and Human Services.

The CCIO oversees the Early Retiree Reinsurance Program, which was set up to subsidize insurance for workers who retired before they were eligible for Medicare, the paper said.

The early retirees often have trouble getting health insurance, an HHS report said, because of age or chronic conditions, and the program was set up to bridge the gap between retirement and the creation of health-care exchanges provided for in Obamacare come into being in 2014.

Just another friendly stop gap measure just like the temporary waivers. Hmmmm

Now, here's the good part. Look at who's zoomin who. Big Unions and Big Evil Corporations are cashing in on Obama. Wow what a contrast ha ha ha This is rich!!

The biggest chunk of the money paid out so far has gone to the United Auto Workers, which received over $206 million. AT&T collected $140 million, Verizon $91 million, General Electric $36 million, and General Motors $19 million, the paper said.

State governments have also collected large sums with the Public Employees Retirement System of Ohio receiving $70 million and the Teacher Retirement System of Texas $68 million.

Please read and pass along to the die hard supporters of this administration.

Just keep spending wildly. Money won't mean a damn thing in a post Obama world.

www.newsmax.com...

reply to post by jibeho


Watch out some may say this is an anti messia thread. And call you a racist bigot.

I for one will not. This is beyond comprehension.

As you and I sit here busting out ass to do our best these guys get a free ticket.

Not to mention all the waviors passed out to the UNIONS.

Is anyone here really surprised? Really?

What you thought Obama care was for us??

Well I guess he sure got you then didn't he.... This whole time he has been lining corporate pockets with every chance he had... Why would this one be any different?

Why shouldnt they get the money. After all they're the ones who wrote the bill in the first place.

Well it seems he has established a voter block base.
It is kind of funny how this stuff is only starting to surface. 2012 campaigning has started early.

Wasn't there a thread recently about how most of these companies paid no taxes? Yet they need to be subsidised?

What happened to the days when a buisness had to pay its own operational costs? Why is Obama running around kissing corporate butt, scrambling to get companies to keep jobs here when the solution is a simple one.

If you dont like the cost of doing buisness in a developed country, get the hell out. But don't think you can sell your "product" here anymore either. See how profitable your buisness is when your only customers are your own outsourced, underpaid sweatshop workers.

Trust me that if there is a need for a product or industry, other enterprising individuals will rise to the ocassion and fill the gaps left behind.

Tax money should NOT go to highly profitable companies, whether in the form of a bailout or subsidy.

So is this how the corporations pay to have there under ground bunkers built w/ the tax money they didn't have to pay or to keep paying off the politicians?

Better yet let's join the party and start a corporation so we can take advantage of all the freebies and get the government to pay just like all the other corporations. Hell Donald just needs to be president..he's got everything else.