ACA architect, MIT economics prof, Jonathan Gruber, argued that perceived rising premium costs are really a one-time increase in 2016 to cover “massively underpriced” policies for the first two years of the 2010 law. Gruber also said the increase “fixed” the problem because insurance companies were seeking signs of profitability and talking optimistically about continued participation in the program.
I guess Obama didn't let Gruber in on the "billion dollar secret." Probably Obama was depending on Gruber's stupidity (smirk).
"Now, I don't want you insurers to worry; when you start
losing money, we are going to jump in and bail you all out."
Obama Siphoned off Billions in GSE Dividends To Prop Up OBAMACARE
ZeroHedge ^ | April 2, 2017 / FR Posted on by Zakeet
Earlier this month, Harvard Ph.D. Jerome Corsi of InfoWars (@jerome_corsi) and a CPA "who worked for two years for a major U.S. accounting firm as an outside auditor for Freddie Mac," confirmed a 2012 scheme hatched by the Obama administration.
The audacious looting involved funnelling hundreds of billions in dividends from Government Sponsored Enterprises (GSE) Fannie Mae and Freddie Mac to prop up the failing Obamacare program - by paying subsidies to insurers to remain in the system. [Snip]
The conclusion reached by Corsi and others is that this was probably illegal. In fact, House Republicans actually sued the Obama Administration in 2014 over the fact that the subsidies to insurers weren't appropriated by congress and won, which the Obama administration appealed.
Zerohedge and the Atlanta Journal Constitution pointed out last week, the Trump administration has until May 22nd to decide whether or not to pursue the appeal: (Excerpt) Read more at zerohedge.com ...
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The Royal Idiot doesn't know much........ but he learned in "the community" that laws don't matter.
The half-caste misfit could care less about US laws: that monies designated for one use cannot be appropriated for another.
O/Care passed by an historic Democrat party-line vote w/ a massive, multi-billion-dollar slush fund that was deliberately kept hidden from us "stupid taxpayers" by self-serving Grubercrats.
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The Untraceable $8 Billion ObamaCare PR Budget---truly govt fraud at its finest. Egged on by Pelosi, Democrats slavishly voted for Obamacare by an historic straight-party line vote.
Not one Democrat told Americans about Obamacare's Section 4002---which mandates an $8B untraceable fund to "promote" Obamacare (apparently b/c Boobamba had so little confidence in his signature legislation).
THE PAYOFF--WHO GOT THE MONEY? In 2010 Taxpayers are extorted $500 million, in 2011, $750 million, 2012, $1 billion, 2013, $1.25 billion, 2014, $1.5 billion, and, in 2015 and on, $2 billion
<><> Where is all that money going?
<><> Was cashing-in the incentive in getting the thing passed?
The sound of West Wing wire-transfers to state Democratic organizations and to offshore banks is almost palpable.
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Turns out Obamacare is a vehicle for consolidating Dummycrat power.....complete w/ a multi-billion dollar slush fund financed by your tax dollar.
ITEM---A local couple called 10News concerned after they received an envelope from Obamacare website, Covered California. Inside was a letter discussing voter registration and a registration card pre-marked with an "x" in the box next to Democratic Party.
ITEM---Obamacare web site is also a voter registration site.