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Obamacare may need a taxpayer bailout: Ex-HHS head
Yahoo Finance ^

Posted on 11/19/2013 7:53:41 AM PST by Red in Blue PA

The rollout of Obamacare has been "absolutely chaotic," said Tommy Thompson, who served as U.S. Health and Human Services secretary under George W. Bush. But worse, he added, the new law is flawed and needs dramatic changes.

"It's actuarially unsound," the former Republican governor of Wisconsin said on CNBC's "Squawk Box" on Tuesday. "If you don't have the healthy young people involved, ... Obamacare cannot function. It's going to require a huge infusion of tax dollars or huge cuts."

One of the cornerstones of the new health-care law is that healthy young people will pay for medical insurance that they use less frequently than the elderly or the chronically ill.

But, Thompson said, from the view of a healthy young person, they may ask: "''Why do I want to do that?''"

Under Obamacare, most Americans have to buy insurance or face a tax penalty.

(Excerpt) Read more at cnbc.com ...


TOPICS: Breaking News; News/Current Events
KEYWORDS: 0carenightmare; 0scamacare; bailout; doctor; economicterrorism; healthcareplan; hillarycare; ifyoulikeyour; iguarantee; nomoney; obamacare; obamacarebailout; obamacaretax; period; taxes; taxpayer; youngwhitesnotstupid; zerocare
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1 posted on 11/19/2013 7:53:41 AM PST by Red in Blue PA
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To: Red in Blue PA

not just No buy Hell NO


2 posted on 11/19/2013 7:55:33 AM PST by bestintxas (Obamacare = Obamascrew)
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To: Red in Blue PA

The big government liberal response...more money please. Wow, there’s a shocker.


3 posted on 11/19/2013 7:56:37 AM PST by VRW Conspirator (Obama is a proven liar, an admitted liar, an unrepentent liar.)
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To: bestintxas

Ruh roh. Somebody done screwed da pooch.


4 posted on 11/19/2013 7:56:54 AM PST by shankbear (The tree of Liberty appears to be perishing because there are few patriots willing to refresh it.)
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To: Red in Blue PA

Obamacare IS a taxpayer bailout.


5 posted on 11/19/2013 8:01:02 AM PST by E. Pluribus Unum (Who knew that one day professional wrestling would be less fake than professional journalism?)
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To: bestintxas

Tommy is the idiot here - he got us into this mess with the left. I’ll never forget when asked if the Fed’s should get involved he said “that states are doing it so yes, the fed should duplicate it” and by duplicating, doubling the cost.


6 posted on 11/19/2013 8:01:06 AM PST by edcoil (System now set up not to allow some to win but for no one to lose!)
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To: Red in Blue PA

Ohh HELL NO !!


7 posted on 11/19/2013 8:05:10 AM PST by American Constitutionalist
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To: Red in Blue PA; All

lets see:

“Too big to fail”?


8 posted on 11/19/2013 8:05:15 AM PST by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: Red in Blue PA

What earthly reason would anyone want to bail out this monster pig healthcare system?


9 posted on 11/19/2013 8:06:14 AM PST by BuffaloJack (Democrats believe in a two-party system—the masters and the slaves.)
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To: Red in Blue PA

Obviously, the US government is not going bankrupt fast enough.

This was the intended purpose all along.


10 posted on 11/19/2013 8:10:21 AM PST by Safrguns (PM me if you like to play Minecraft!)
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To: Red in Blue PA

There is no tax penalty, there is merely tax. When the tax is not paid or deducted from over payments, the penalty for non payment will accrue


11 posted on 11/19/2013 8:11:52 AM PST by bert ((K.E. N.P. N.C. +12 ..... Travon... Felony assault and battery hate crime)
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To: Red in Blue PA

Obamacare IS a bailout, idiots.


12 posted on 11/19/2013 8:17:08 AM PST by madison10
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To: Red in Blue PA

Isn’t this akin to yelling, “There’s a forest fire over there. Someone get me a gas truck!”


13 posted on 11/19/2013 8:30:05 AM PST by cincinnati65
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To: Red in Blue PA

Maybe one of you fiscal experts can help me on this question. If the premium rates and deductibles/co-pays on Obamacare take a big rise because of the lack of young adults participating and the Administration wants to subsidize those increases with taxpayer dollars does it have the authority/capability of doing that without the approval of Congress?


14 posted on 11/19/2013 8:43:52 AM PST by Old Retired Army Guy
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To: Red in Blue PA

Healthcare.gov Website Security

House Oversight and Investigations Subcmte. Chairman Tim Murphy (R-PA) holds a hearing on the security of the Healthcare.gov website. Members hear from Deputy Chief Information Officer Henry Chao of the Centers for Medicare and Medicaid Services.

http://www.c-span.org/


15 posted on 11/19/2013 8:51:22 AM PST by kcvl
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To: Red in Blue PA
Obamacare may need a taxpayer bailout: Ex-HHS head

No, thank you.

16 posted on 11/19/2013 8:55:54 AM PST by Lazamataz (Early 2009 to 7/21/2013 - RIP my little girl Cathy. You were the best cat ever. You will be missed.)
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To: Red in Blue PA

Good. Let them ask for an Obamacare bailout. No way this will be palatable to the majority of Americans, and therefore the admission of a bailout need provides a pathway to REPEAL.


17 posted on 11/19/2013 8:55:55 AM PST by BlueStateRightist (Government is best which governs least.)
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To: Red in Blue PA

Since 85 Billion is being printed each month and infused into the economy ... one would think things would being to become better for everyone, or at least that is what those fools in D.C. want the American people to believe. I could do without another crash of the economy but those fools in D.C. have deemed it to be so.


18 posted on 11/19/2013 8:57:47 AM PST by no-to-illegals (Scrutinize our government and Secure the Blessing of Freedom and Justice)
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To: Red in Blue PA

Somehow, I don’t see funding getting approved by the House. . . .


19 posted on 11/19/2013 9:00:24 AM PST by Salgak (http://catalogoftehburningstoopid.blogspot.com 100% all-natural snark !)
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To: Salgak
From your keyboard to God's ears...

Ted Cruz was right!

HF

20 posted on 11/19/2013 9:03:15 AM PST by holden (Alter or abolish it yet?)
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To: Old Retired Army Guy

I don’t know the answer to your question. It is a great question and one I suspect the answer lays within the law, as yet undiscovered. There is so much legalese, within this law, and knowing what one and everyone here knows about democRATs anything and everything to kill our nation maybe is included in this law. I truly believe the democRATs and their allies, in the media, have a death wish for all of us. Wish I was more optimistic but .... things are starting with this law that will be completely out of control for many Americans soon including many people in the democRAT base. What is surprising to me though is before the democRAT base figures out what their party did to them, the party (if one may call this a party) will just be beginning. (imho)


21 posted on 11/19/2013 9:07:23 AM PST by no-to-illegals (Scrutinize our government and Secure the Blessing of Freedom and Justice)
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To: Red in Blue PA

Time to repeal is now. GOP needs to campaign as a unified party and pledge to repeal if they take the senate.

One GOP campaign and one unified message to voters.


22 posted on 11/19/2013 9:08:40 AM PST by 1Old Pro
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To: bert
"When the tax is not paid or deducted from over payments, the penalty for non payment will accrue"

All this will do is make d*mn sure young Jack and Jill will always have to write a check on April 15 for the rest of their lives.

Or, at least until another Dem in office finds a "fairer" way for them to be forced to contribute to the "common good".

23 posted on 11/19/2013 9:09:55 AM PST by Abathar (Proudly posting without reading the article carefully since 2004)
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To: Old Retired Army Guy
Will try to make a better explanation to your question. Your question should be an obvious no but since the supremes ruled this law creates a new tax, not certain regarding an accurate answer.
24 posted on 11/19/2013 9:13:20 AM PST by no-to-illegals (Scrutinize our government and Secure the Blessing of Freedom and Justice)
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To: Red in Blue PA

“One of the cornerstones of the new health-care law is that healthy young people will pay for medical insurance that they use less frequently than the elderly or the chronically ill.”

So, it’s a giant new pyramid scheme. It’s worse than some pyramid schemes, however, because it involves special exemptions, and multiple mechanisms by which to redistribute wealth. How wonderful.


25 posted on 11/19/2013 9:17:08 AM PST by pieceofthepuzzle
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To: Red in Blue PA

Obama’s next great idea will be our pay checks will company money like the coal miners received.


26 posted on 11/19/2013 9:23:05 AM PST by Vaduz
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To: Red in Blue PA

Kill the law. No bailout.


27 posted on 11/19/2013 9:24:11 AM PST by SoFloFreeper
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To: Old Retired Army Guy

“If the premium rates and deductibles/co-pays on Obamacare take a big rise because of the lack of young adults participating and the Administration wants to subsidize those increases with taxpayer dollars does it have the authority/capability of doing that without the approval of Congress?”

Yes they wrote something in the rules called a risk corridor so under your scenario if the insurers losses exceed 8 per cent of the cost of the program the government must reimburse them for 80 per cent of the loss. The administration was counting on these cancellations of healthy younger folks to come into the exchange and pay higher premiums to subsidize the older sicker poorer folks who are the first ones to sign up for their subsidized freebes. Now with Obama delaying the cancellations the pool of high risk participants is a loser economically.


28 posted on 11/19/2013 9:24:20 AM PST by chuckee
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To: Red in Blue PA; All

I bet they would love for folks like us to say, “Over my dead body!”

Which brings those death panels into play...


29 posted on 11/19/2013 9:32:55 AM PST by stevie_d_64 (It's not the color of one's skin that offends people...it's how thin it is.)
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To: Red in Blue PA

Lets see:
Option 1: Repeal and cancel forever.
Option 2: Keep and modify through illegal executive orders; increased: government funding, taxes, government employment; somebody else pays; freebe for illegals; political and MSN yackety yak; national debt; medical related deaths; etc.
Only a HupA SFI would go for Option 2.


30 posted on 11/19/2013 9:37:33 AM PST by Huskerfan44 (Huskerfan44 (22 Yr, Navy Vet))
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To: holden

That he was.


31 posted on 11/19/2013 9:38:31 AM PST by b4its2late (A Liberal is a person who will give away everything he doesn't own.)
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To: Red in Blue PA

Simple solution.

Tax every “young, healthy” person who voted for Obama out the wazoo. If they voted for him twice, tax them double.

Anyone who has an “I Love Obamacare” bumper sticker on their car should be fined $10K a year until Obama is repealed.


32 posted on 11/19/2013 9:45:46 AM PST by rightwingintelligentsia (Democrats: The perfect party for the helpless and stupid, and those who would rule over them.)
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To: no-to-illegals

Supremes ruling and explanation is not obvious.


33 posted on 11/19/2013 9:48:13 AM PST by Huskerfan44 (Huskerfan44 (22 Yr, Navy Vet))
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To: Old Retired Army Guy

“The secretary shall determine...”


34 posted on 11/19/2013 9:50:29 AM PST by JediJones (The #1 Must-see Filibuster of the Year: TEXAS TED AND THE CONSERVATIVE CRUZ-ADE)
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To: BlueStateRightist

A yes vote for bailout = bye bye.


35 posted on 11/19/2013 9:52:19 AM PST by Huskerfan44 (Huskerfan44 (22 Yr, Navy Vet))
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To: Red in Blue PA

Sure 0bamacare was screwing the country, it simply wasn’t screwing the country hard enough. More! More!


36 posted on 11/19/2013 9:54:32 AM PST by Billthedrill
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To: Red in Blue PA

BOHICA!


37 posted on 11/19/2013 9:56:36 AM PST by Huskerfan44 (Huskerfan44 (22 Yr, Navy Vet))
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To: Red in Blue PA

Their meeting went something like this:

“We will need younger people willing to pay for insurance they don’t need so the older and sicker will be covered. Can we count on them being that compassionate?”

“No, Mr. President, but we can count on them being that stupid. They voted for you.”

Now this: “I thought you said they were stupid.”

“Well, Mr. President, they are still stupid enough to vote for you a second time. But their stupidity apparently ends when they look at the balance in their bank accounts.”


38 posted on 11/19/2013 9:59:27 AM PST by VerySadAmerican (".....Barrack, and the horse Mohammed rode in on.")
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To: Huskerfan44

Thank you for your service (22 years) to our nation.


39 posted on 11/19/2013 10:01:13 AM PST by no-to-illegals (Scrutinize our government and Secure the Blessing of Freedom and Justice)
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Support Free Republic.
Thank you!

40 posted on 11/19/2013 10:42:47 AM PST by RedMDer (Happy with this, America? Make your voices heard. 2014 is just around the corner. ~ Sarah Palin)
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To: Red in Blue PA

“May” need a taxpayer bailout? It will for sure. And many more after that. There are lots of congress crooks and their cronies who aren’t quite rich enough yet.


41 posted on 11/19/2013 10:43:03 AM PST by DPMD
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To: Red in Blue PA

***But worse, he added, the new law is flawed and needs dramatic changes.***

You could say that the new law is flawed and needs to be abolished, but nah...that wouldn’t fit the RINO narrative.


42 posted on 11/19/2013 11:21:28 AM PST by MichaelCorleone (Jesus Christ is not a religion. He's the Truth.)
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To: Red in Blue PA

If we didn’t have a Federal Reserve, the government would have to compete for real money with private citizens. It would have to pay real interest rates, and it would suffer immediate consequences for massive overspending.

BAILOUTS of things like Obamacare would be impossible. Ending the FED would kill the progressive nanny state forever.

I’m always surprised more conservatives don’t see this obvious connection.


43 posted on 11/19/2013 11:53:06 AM PST by PGR88
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To: Red in Blue PA

Obama will try to demonize anyone that opposes a bailout of his Commiecare.


44 posted on 11/19/2013 12:38:48 PM PST by RedMDer (Happy with this, America? Make your voices heard. 2014 is just around the corner. ~ Sarah Palin)
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To: stevie_d_64






"WHICH BRINGS THOSE DEATH PANELS SQUADS INTO PLAY…"






45 posted on 11/19/2013 1:43:33 PM PST by devolve (- "He's (Obama) just 'too talented' to do what 'ordinary people' do." - Iranian-born Valerie Jarrett)
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To: Red in Blue PA

Obama-care was designed to fail:Cloward-Piven.

The left want single payer and now the push for nationalization will begin.


46 posted on 11/19/2013 3:14:57 PM PST by Le Chien Rouge
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To: longtermmemmory
“Too big to fail”?

Oh you know thats where the RATS will take this. And of course the Stupid party will allow themselves to be labeled as the haters of children and poor and will help write another trillion dollar loan from the Chinese.

47 posted on 11/19/2013 3:34:39 PM PST by DAC21
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To: Red in Blue PA

. It’s going to require a huge infusion of tax dollars or huge cuts.”

HUH....I VOTE HUGE CUTS!!!!!!!


48 posted on 11/20/2013 8:52:20 AM PST by AngelesCrestHighway
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To: AngelesCrestHighway

I propose a series of hugh cuts, each more hugh and series than the last!


49 posted on 11/20/2013 8:53:09 AM PST by JediJones (The #1 Must-see Filibuster of the Year: TEXAS TED AND THE CONSERVATIVE CRUZ-ADE)
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To: JediJones
I propose "SLICE AND DICE" the whole damn thing!
50 posted on 11/20/2013 8:58:12 AM PST by AngelesCrestHighway
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