Hot Air posted an article yesterday about the Early Retiree Reinsurance Program, a part of Obamacare which has already spent over $1.7 billion. The purpose of the plan is to help companies pay the healthcare costs of their early retirees, but let's see where the money actually went.
According to the article:
"The list that follows is like a Who's Who of big campaign donors, unions, and public employee groups. Six of the top ten recipients are pension systems for public employees. The United Auto Workers, already $3.4 richer from the auto bailout, topped the list with an award of almost $207 million. General Electric, which paid no taxes at all in 2010 and whose CEO is a darling of the White House, received $36.6 million, good for 11th place on the list.
"AT&T, which placed second on the list, spent slightly under $15.4 million on lobbying efforts in 2010 and will rake in over $140 million from just this portion of Obamacare. Verizon, third on the list, will make $91.9 million on its $16.75 million 2010 lobbying investment."
This is not a pretty picture. We need to find a way to turn off the money flow from the government to campaign donors. I suspect that this has always been a problem, but it just seems much more blatant right now. The government is broke. It is time to bring spending under control. Giving money to corporations who have already reported huge profits makes no sense.
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