Obamacare names the Secretary of Health and Human Services (HHS) to direct the exchanges and provides for their "indefinite" funding and a Congressional Research Service (CRS) report identifes how HHS spent that $4.8B:
- between 2010 and 2012, $456M was spent on "exchange operations" prior to the law going into effect;
- in 2013, $1.545B was spent on exchange administrative costs; and,
- in 2014, $1.390B will be spent on the exchanges.
And that's to say nothing about the federal grants made to the states ($4.6B) and to "early innovators"--states that created their own exchanges and served as models to other states--($249M).
Oh, and that's also to say nothing about the $4.8B that HHS doled out to the 14 states and the District of Columbia that set up their own exchanges. The 36 remaining states joined the federal exchange.
Oh, and let's not forget the $700M on internet "memes"--GIFs and ads to promote enrollment.
Getting the picture?
Then, guess what? The President's budget for 2015 calls for $1.8B in funding to run the exchanges. Okay. But, $1.159B is supposed to be paid for with user fees, leaving a $642M deficit. That's pretty bad, no?
Well, then, consider this: The CRS report states that the Centers for Medicare and Medicaid Services is expected to collect only $200M in user fees. Guess who's left holding the bag to pay for that $1.6B deficit?
Disgusting...truly disgusting...that these facts aren't being reported by the mainstream media. Is there anyone else but The Motley Monk who reads the Washington Free Beacon regularly?
Let the discussion begin...
To read the Washington Free Beacon, click on the following link:
"Feds Spent $4.8 Billion on Obamacare Exchanges So Far."