Treasury Dept. Approves $3 Billion Transfer to Insurance Companies that Congress Denied
A letter from House Ways and Means Chairman Paul Ryan (R-WI) demands an explanation from the Treasury Department on why it allowed $3 billion in payments to ObamaCare insurance companies that Congress never approved.
In a well-documented piece, Philip Klein gives a disturbing summary of the Obama administration deliberately refusing to follow the law.
“At issue are payments to insurers known as cost-sharing subsidies,” writes Klein. “These payments come about because President Obama’s healthcare law forces insurers to limit out-of-pocket costs for certain low income individuals by capping consumer expenses, such as deductibles and co-payments, in insurance plans. In exchange for capping these charges, insurers are supposed to receive compensation.”
Remember how Barack Obama, following his inauguration in 2009, infamously disparaged the concept of American exceptionalism?
“I believe in American exceptionalism,” he sarcastically said with his trademark self-satisfied smirk, “just as I suspect the Brits believe in British exceptionalism, and the Greeks believe in Greek exceptionalism.” Five years hence, his presidency has succeeded in degrading America toward the unexceptional status in which he held it all along.
A vivid illustration of that lamentable reality arrived this week, as The Wall Street…
"The IRS's inspector general confirmed Thursday it is conducting a criminal investigation into how Lois G. Lerner's emails disappeared, saying it took only two weeks for investigators to find hundreds of tapes the agency's chief had told Congress were irretrievably destroyed. Investigators have already scoured 744 backup tapes and gleaned 32,774 unique emails, but just two weeks ago they found an…[more]