Skip to comments.Obama's $8.3 Billion Re-Election Slush Fund
Posted on 04/23/2012 4:42:48 PM PDT by Kaslin
Medicare: Backers like to say the more people know about ObamaCare, the more they'll like it. So why is the administration spending $8.3 billion to hide a key provision from millions of seniors until after the election?
That's precisely what administration officials are doing right now as a way to mask the effect of ObamaCare's deep cuts to the popular Medicare Advantage program.
Championed by Republicans in 1997, Medicare Advantage offers seniors an escape valve from the creaky, government-run Medicare insurance program.
The idea was that private insurance companies could better manage costs than the government's own top-down insurance plan, and give enrollees more and better benefits while still saving taxpayers money.
Medicare Advantage has proved popular with seniors, 12 million of whom have enrolled. But the left loathes it, arguing that Medicare overpays insurance companies, thereby ripping off taxpayers to enrich this industry.
Obama himself long complained about Medicare Advantage while running for office and while pitching ObamaCare.
In his 2009 health care speech to Congress, he said Medicare Advantage offered "unwarranted subsidies" that "do everything to pad (insurance company) profits and nothing to improve your care." And he repeatedly vowed to "eliminate" these subsidies.
ObamaCare delivered targeting Medicare Advantage for $145 billion in spending cuts over the next 10 years, equal to almost 30% of ObamaCare's planned Medicare cuts.
Whatever merits to the claim that Medicare Advantage overpays insurers there's some evidence that this does happen the fact is that ObamaCare's payment cuts will, if left in place, drive many out of the Medicare Advantage business.
Medicare's own actuary reported that ObamaCare would eventually force more than 7 million seniors off their private plans and back onto traditional Medicare as insurers flee the market.
(Excerpt) Read more at news.investors.com ...
This is what happens when you don’t have a true, free and unbiased press.
Why shouldn’t Obama lie, if you never get called to account for it.
I just saw this on Larry Kudlow and it is sickening
It's been almost 4 years now and that dude and his side-kicks are STILL not in prison!!! (Oh, and the biggest cheese has still not been impeached and convicted)
Levin devoting program tonight to obama’s confiscatory economics and discussed this article.
He also just said that he got a call from a Senator’s office who said Medicare will be broke in 5 yrs, not 12. He did not reveal the Senator’s name.
i caught the tail end of it- the dude kudlow had on seemed to trash obama...
The House Republicans better find a way to put a hold on this $8 billion or Omama wins in 11/2012.
That guy was a former HHS assistant secretary and now president of some college or university.
The guy explained it very well, he supposedly broke the story - try to catch the whole thing on CNBC or YouTube
As I said before, Acknowledge the corruption-—’Obama/Corzine 2012’
They can’t because this particular money is a discretionary fund
Obama Cons Medicare Seniors to Gain Their Votes
BTW I am a Medicare senior citizen and he is not scaring me to vote for him or any other democ
But I fear that MSM and the demoncrats continual scare tactics directed at seniors will work again this time.
Most of my generation of seniors is all for jumping on the 'gimme free government stuff' bandwagon.
So true... So sad...