Rest assured these well-trained birds of a feather won’t go hungry anytime soon:
(Daily Caller) Two mainstream news organizations are receiving hundreds of thousands of taxpayer dollars from Obamacare’s Early Retiree Reinsurance Program (ERRP) — a $5 billion grant program that’s doling out cash to companies, states and labor unions in what the Obama administration considers an effort to pay for health insurance for early retirees. The Washington Post Company raked in $573,217 in taxpayer subsidies and CBS Corporation secured $722,388 worth of Americans’ money.
“It is fine with me if they continue covering the ObamaCare debate,” said Rep. Marsha Blackburn, Republican of Tennessee, in an e-mail to The Daily Caller. “When NBC used to cover energy issues, they identified themselves as a subsidiary of General Electric. CBS and Washington Post just have to disclose that they are subsidiaries of the Obama Administration.”
The ERRP, which Republicans call a slush fund, provides taxpayer money to Obama administration-selected states, companies and labor unions with already-in-place early retiree health insurance programs, and aims to make certain that their employees who retire early still have health insurance coverage before they reach Medicare eligibility age. Almost $2 billion of the $5 billion fund, which was supposed to last until 2014, has already been distributed to corporations. New projections expect the funding to run out before the end of 2012, if not sooner.
UPDATE (04.06.2011) h/t John in ‘comments’
ObamaCare Strokes The Fat Cats
(NY Post) When government says it’s set to do something for the little guy, hang on to your wallet.
The latest evidence for this came in a congressional report released last week, showing that the seniors lobby (and insurance giant) AARP stands to make more than $1 billion as a result of ObamaCare.
The game works this way: The new health-care law contains more than $136 billion in cuts to the Medicare Advantage program, which now covers one in five seniors. As a result, according to Medicare’s chief actuary, at least 7 million seniors will be forced out of their Medicare Advantage plan and back into traditional Medicare.
But since traditional Medicare lacks several Medicare Advantage benefits, many will have to buy so-called “Medigap” policies to make up the difference. And who’s the nation’s largest marketer of Medigap plans? The AARP.
An 18-month congressional probe found that the AARP stands to make $55 million to $166 million in one year alone from seniors switching from Medicare Advantage to AARP Medigap plans. Over the next 10 years, it would earn more than $1 billion from new customers. Business is good if you can get the government to put your competitors out of business.
The AARP isn’t the only big ObamaCare winner to come to light in the last few days. A hearing by the House Energy and Commerce’s Subcommittee on Oversight and Investigations disclosed that labor unions and big businesses — including General Electric, Verizon, AT&T and IBM — have received nearly $1.9 billion in payments under the new health-care law to help offset health-insurance costs for early retirees.
The biggest single recipient: the United Auto Workers, which got nearly $207 million in taxpayer money. By the time the feds finish handing out funds to well-connected companies and unions, it’s expected to have cost taxpayers $5 billion.
The program doesn’t even require companies or unions to demonstrate any “financial need” for the subsidy. As a result, it enables companies to incentivize early retirement for older employees, saving the companies money and improving their balance sheets — with taxpayers footing the bill.
UPDATE (08.22.20212) MSNBC Funded By Stimulus
(Fox) The Obama administration paid a PR firm nearly $500,000 in stimulus funds to run a barrage of ads on White House-friendly cable programs promoting its green job training program.
According to government records, the Labor Department paid the money in late 2009 to a company that negotiated a media buy on MSNBC’s “Countdown with Keith Olbermann” and “The Rachel Maddow Show.” The ad was set to run more than 100 times — 14 times a week for two months.
It’s unclear how many people might have gotten involved in the green job training program because of the ads. But in terms of direct economic impact, the official online entry on the contract listed zero jobs created as a result of the payment.
Mainstream media publishes another GM press release as ‘news’ — Government Motors claims ‘chocolate rations’ are up: HERE
Washington Post targets Sarah Palin: HERE
Oops! HHS secretary Kathleen Sebelius admits to double-counting in ObamaCare ‘budget’: HERE
US Government is bankrupt: HERE
Bankruptcy declaration for states sought — QUIETLY: HERE
Jesse Jackson, ‘We need more stimulus’: HERE
Bankrupt GE to spend $30 billion as Obama administration continues to fund GE: HERE
GE’s strategy: let’s avoid taxes altogether: HERE
Bankrupt GM and Chrysler blow taxpayer loot: HERE
We’re a nation of takers, not makers: HERE
The War Movement: Bush war = BAD, Obama war = GOOD: HERE
‘As president I promise to use billions of taxpayer dollars to fund Soros, Petrobras, globalization and my personal Vanguard holdings‘: HERE
Obama administration, bad eggs: HERE
Joe Biden, ‘Impeach the president!’: HERE
How mainstream media works: HERE