The $4 Billion Obamacare Slush Fund for Progressives

Federal loan programs that fail with corruption and graft are popular lately.

The taxpayers have been led to believe that certain programs are genuine and are the best thing for everybody.

Take the green energy green investment program .... epic failure.

Well we have a new one melding our money with known heisters and graft specialists.

This one is the ObamaCare plan to provide "non-profit" CO-OP health insurance.

Not for free of course.

The government has set up a slush fund of $4 billion for this next debacle waiting to happen.

Obamacare CO-OP overseers already predict a nearly 40 percent default rate for the loans.


There are some old friends involved too. Many all connected in the past, including Obama himself.
(Van Jones, Acorn, Sara Horowitz, etc.)

An article by Michelle Malkin has some shocking details about this soon to be windfall for profit boondoggle.

I wonder if the customer service reps for this will have at least an 8th grade education.


February 24, 2012 -- CNS News

If you like how the Obama administration's multi-billion-dollar "investments" in bankrupt solar companies have turned out, you'll love the latest federal loan program to nowhere. It's the Obamacare loyalty rewards program for progressives.

To appease liberal Democrats pushing for the so-called "public option" (the full frontal government takeover of our health care system), the White House settled for the creation of a $6 billion network of nonprofit "CO-OPs" that will "compete" with private insurers.

It's socialized medicine through the side door. House Republicans sliced about $2 billion from the slush fund in last spring's budget deal and proclaimed the program dead. Hardly.

On Wednesday, the White House trumpeted the release of nearly $700 million in taxpayer-funded low-interest loans for seven CO-OPs in eight states. Administered by the Centers for Medicare and Medicaid Services, the fund will pour more money into CO-OP plans nationwide throughout the next year.

Green Health Care



Taxpayers Beware !!

a reply to: xuenchen

The Federal Government Insurance Co-Ops blew through that $4 Billion Dollar slush fund in just 2 years. When the Government failed to send them more money, most of them (17 of 23 so far) had to shut down.

This left the host states owing millions of dollars in medical bills, for medical care delivered to Co-Op insured patients, because the Co-Ops went broke.

One-by-one, the affected states have been attempting to sue the Federal Government to obtain funds for paying off these outstanding medical bills. The latest is South Carolina. It needs $36.9 million to pay off those medical debts on behalf of state citizens who were left hanging.

Story: www.postandcourier.com... b.html

The one thing that this failed Democrat-demanded experiment proves, is that HUGE amounts of money would be needed if the U.S. went to a full-blown "single payer" system, IMO.

-cwm