Skip to comments.Obamacare may need a taxpayer bailout: Ex-HHS head
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 ...
not just No buy Hell NO
The big government liberal response...more money please. Wow, there’s a shocker.
Ruh roh. Somebody done screwed da pooch.
Obamacare IS a taxpayer bailout.
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.
Ohh HELL NO !!
“Too big to fail”?
What earthly reason would anyone want to bail out this monster pig healthcare system?
Obviously, the US government is not going bankrupt fast enough.
This was the intended purpose all along.
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
Obamacare IS a bailout, idiots.
Isn’t this akin to yelling, “There’s a forest fire over there. Someone get me a gas truck!”
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?
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.
No, thank you.
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.
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.
Somehow, I don’t see funding getting approved by the House. . . .
Ted Cruz was right!
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)
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.
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".
“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.
Obama’s next great idea will be our pay checks will company money like the coal miners received.
Kill the law. No bailout.
“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.
I bet they would love for folks like us to say, “Over my dead body!”
Which brings those death panels into play...
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.
That he was.
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.
Supremes ruling and explanation is not obvious.
“The secretary shall determine...”
A yes vote for bailout = bye bye.
Sure 0bamacare was screwing the country, it simply wasn’t screwing the country hard enough. More! More!
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.”
Thank you for your service (22 years) to our nation.
“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.
***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.
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.
Obama will try to demonize anyone that opposes a bailout of his Commiecare.
Obama-care was designed to fail:Cloward-Piven.
The left want single payer and now the push for nationalization will begin.
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.
. It’s going to require a huge infusion of tax dollars or huge cuts.”
HUH....I VOTE HUGE CUTS!!!!!!!
I propose a series of hugh cuts, each more hugh and series than the last!