Here's some potentially VERY good economic news that was lost amid the weekend news flurry.  Those…
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Some Potentially VERY Good Economic News

Here's some potentially VERY good economic news that was lost amid the weekend news flurry.  Those with "skin in the game," and who likely possess the best perspective, are betting heavily on an upturn, as highlighted by Friday's Wall Street Journal:

Corporate insiders are buying stock in their own companies at a pact not seen in years, a sign they are betting on a rebound after a coronavirus-induced rout.  More than 2,800 executives and directors have purchased nearly $1.19 billion in company stock since the beginning of March.  That's the third-highest level on both an individual and dollar basis since 1988, according to the Washington Service, which provides data analytics about trading activity by insiders."

Here's why that's important:

Because insiders typically know the…[more]

March 30, 2020 • 11:02 am

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Obama Administration Breaks Law to Enrich Health Insurers Print
By Betsy McCaughey
Monday, February 22 2016
This rogue administration is going to any length - including running afoul of the law - to keep insurers hooked into Obamacare.

The Obama administration will tell any lie and break any law to prevent the president's signature health program from collapsing. Insurance companies, such as UnitedHealthcare and Aetna, are losing billions trying to sell Obamacare plans, and the risk is they'll drop out at the end of 2016. No insurance companies means no Obamacare. In 2014, the White House tried to avert that disaster by promising insurers a bailout funded with taxpayer dollars, but public outrage and quick action by Senator Marco Rubio put a stop to it. Now the administration is at it again.

Desperate to keep insurers on board, the administration scrambled to find another source of money. Unfortunately, a big part of that money pot belongs to the public. Disregarding that fact, the administration announced on Feb. 12 that the money will be handed out to insurers  a whopping $7.7 billion this year alone. That huge handout to the insurance industry violates the law.

This is money you and everyone else who already has insurance is forced to pay, called a reinsurance fee. You pay the fee whether you buy your own plan or get covered at work, even if your employer self-insures. You may be clueless about it, but the fee is buried in your premium or taken out of your compensation.

The language of section 1341 of the Affordable Care Act, which details what this money can be used for, is clear as a bell. Some of these annual fees  adding up to billions a year  belong to the public, not the insurance companies. The law states a fixed share "shall be deposited into the general fund of the Treasury of the United States and may not be used" to offset insurance companies' losses. But the administration gave all of it to the insurance companies last year, and got away with that heist. So they're trying it again.

Anyone in the corporate world who misused funds that way would be headed to prison. This rogue administration is going to any length  including running afoul of the law -- to keep insurers hooked into Obamacare.

In the words of University of Houston law professor Seth Chandler, who tried to call attention to the crime several months ago, this is an illegal "diversion of funds to enrich insurers." Last year alone, Blue Cross Blue Shield of Texas got $549 million of these reinsurance funds, while Anthem Blue Cross of California got $401 million.

How did this fly under the radar last year? Because no one  especially members of Congress  has read the law. Insurance companies weren't about to object to getting more money than the law allows. Plus, the announcements of these payments were buried in mind-numbing federal agency releases. The latest such disclosure came late on the Friday of a holiday weekend. The business press reported the announcement but didn't go back to read section 1341 of the law and find that the payouts are illegal.

Last week, a few health scholars took notice, including Doug Badger, senior fellow at the Galen Institute. He says the illegal maneuver is "designed to keep a sinking ship from hitting rock bottom."

Congress should step in immediately and exercise its oversight duties to stop this looting. The next payments to insurers are promised for March. No time to waste.

Obamacare was sold on lies: You can keep your health plan if you like it. And you can keep your doctor if you like your doctor. Then, once it was passed, the administration resorted to a long string of lawless executive actions to keep an unworkable scheme going, despite the damage being done to employers, doctors and consumers.

The administration's diversion of public funds to its insurance company cronies is just the latest defiance of the law. The president has illegally delayed the employer mandate repeatedly. He's handing out free Obamacare plans to illegal immigrants. Statutory deadlines are routinely ignored, and funds are slyly shifted from one program to another  the law be damned.

Ultimately, Obamacare is imperiling not only our health and our nation's economic growth, but also our nation's most precious asset  the rule of law.

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Betsy McCaughey is a senior fellow at the London Center for Policy Research and author of "Government by Choice: Inventing the United States Constitution."
COPYRIGHT © 2016 CREATORS.COM

Question of the Week   
Which one of the following pandemics caused the largest number of deaths in the 20th Century alone?
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Quote of the Day   
 
"The city of San Francisco is forbidding shoppers from carrying reusable bags into grocery stores out of fear that they could spread the coronavirus.As part of its shelter-in-place ordinance, the California city barred stores from 'permitting customers to bring their own bags, mugs, or other reusable items from home.' The city noted that transferring the bags back and forth led to unnecessary contact…[more]
 
 
—Madison Dibble, Washington Examiner
— Madison Dibble, Washington Examiner
 
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