Barack Orwell Obama is a brilliantly committed Marxist, no matter what his detractors may say.
Deep inside of Obamacare exist many Orwellian central planning schemes that even include Orwellian names.
My latest favorite is this one: Risk Corridors.
The “risk corridors” provision gives extra payments to health plans that draw a lot of sick people, and administration officials think they can adjust that mechanism to help insurers that lose too many customers they were expecting. <source>
So here we have Obama and his bureaucrats, who have already unleashed billions of dollars of subsidies to tens of millions of people as part of Obama’s Hugo Chavezian power grab, planning to buy off private insurance companies with tax payer money when the central planning mess causes them to almost fail.
You can see that Barack Obama’s takeover of 1/8th of the American economy — health care — is meant to be complete and total, including turning private insurance companies into vassals of the state, and why not? The more people, the more companies, and the more institutions Barack Obama can make dependent on his central power, the more inoculated that central power becomes from any restraints or checks and balances.
Will the “Risk Corridors” provision achieve its intended goal?
But even if that works, that could increase the cost of Obamacare — because the federal government would be on the hook for most of those extra expenses. In a letter to lawmakers, the American Academy of Actuaries warned that “costs to the federal government could increase as higher-than-expected average medical claims are more likely to trigger risk corridor payments.”
Oh, I see — so Obamacare will end up costing tax payers far more than was advertised in 2009?
Wow, I did not know that until now, and I am shocked, SHOCKED, at this news.
Good thing we are not saddled with record-size federal deficits each year, and a running total now over $17 trillion.
Could this “risk corridor” provision lead to a massive tax-payer-funded bailout of insurance companies of the kind Wall Street received under Bush and then Obama?
Yes indeed, and at least one Republican Senator is trying to prevent this.
That’s the issue Sen. Marco Rubio (R-Fla.) is targeting with his proposal to repeal the risk corridors provision to prevent a “bailout” of insurance companies. A Rubio aide says there’s no exact estimate of how much federal spending would increase, but they’re going to ask the Congressional Budget Office to look into it.
This is how a nation goes bankrupt — even the United States, and it’s how a free nation allows itself to be enslaved.