WASTE WATCH: Billions wasted in Obamacare
NASHVILLE, Tenn. —
Tax watchdogs claim billions of our tax dollars have been wasted on the Affordable Care Act.
Adding up some of the expenses on failing aspects of the ACA showed money wasted to the tune of 55-billion dollars.
The ACA covers 20 million more Americans with health insurance, who weren’t previously insured.
Though expected to be pricey, tax watchdogs said the cost of the ACA turned out to be considerably more than expected.
Tax watchdog group Citizens Against Government Waste said more than half of the 20-million people added are in Medicaid, which is already a strain on states budgets.
Typical families premiums have also significantly increased.
"In some cases, people are paying so much for deductibles that it eventually makes insurance unaffordable," said CAGW President Tom Schatz.
Investors Business Daily listed $55-billion dollars of taxpayers' money wasted by Obamacare in 2016. It showed $5 billion in grants have been given to states to create the marketplace exchanges, which only 12-states still have.
$2.4 billion has been loaned to create 23 CO-OPs, and all but six have gone under with very little likelihood those loans from tax payers will ever be repaid.
It cost $2 billion to create healthcare.gov and continues to cost more than $500-million in 2017 to keep the site running. Add that with billions in insurance bailouts, IRS expenses and improper subsidies given to people who couldn't prove their citizenship.
CAGW suggested repealing the act and it's more than one hundred new regulations that continue to drain taxpayers wallets.
Thirty million people in America still remain without health insurance. CAGW suggested replacing Obamacare with a plan that allows more individual purchasing power and taking the federal government out of the process.