The US Inspector General recently published a report that revealed the federal government is unable to account for almost $3 billion dollars worth of Obamacare subsidies. This staggering display of government mismanagement, even during the weeks leading up to a landmark Supreme Court decision, failed to register any significant headlines on the major networks.
The audit shows that the government simply doesn’t know where the money went. The cash was intended to help recipients pay for affordable health insurance but it is unknown whether that money was provided to the right people in the right amount.
The problem stems from the original Obamacare roll out which by all accounts was a colossal failure. Healthcare.gov, which still isn’t fully operational almost two years after its launch, started to issue payments before customer information was verified. The Wall Street Journal is reporting that the website is going through a re-boot that will prevent Healthcare.gov’s back end from being fully functional until at least the end of 2015. In the meantime, subsidy payments are still being doled out by the millions.
Obamacare has been a financial mess by almost every measure. Out of the 37 states that the federal government provided funds to establish, only 17 actually became operational. Two of those went bankrupt within the first year. Millions of dollars down the drain with nothing to show for it.
The government’s own research estimates that Obamacare will add six trillion dollars to the deficit in the long term and millions of dollars have already been wasted, much of it unaccounted for.
It has been widely reported that health care premiums are skyrocketing with more increases on the way. The exact opposite reaction that the law was supposed to inspire.
Despite all these shortcomings, the media remains complicit and insists on only reporting the small victories of the health care law while ignoring the very real financial burdens that Obamacare is inflicting on the economy.
It is a very likely possibility the whole law will unravel after the upcoming Supreme Court ruling which should finally force the major networks to at least acknowledge Obamacare’s many flaws.