New $5 Billion Slush Fund to Reward Obama Union Supporters & Subsidize Health Care for Retirees

Obama takes care of his friends and hands the rest of us the bill!

Remember how Democrats insisted that the need to pass the health care bill was great we didn't have time to read it? Remember that former House Speaker Nancy Pelosi said we need to pass the bill to find out what is in it?

One year later and we are still just only now uncovering the corruption and payoffs that went into ObamaCare. The latest discovery comes as Investigators for the House Energy and Commerce Committee started looking into the workings of one of those many bureaucratic agencies included in the legislation (remember this organizational chart?. Investigators discovered that the Center for Consumer Information and Insurance Oversight, part of the Dept. of Health and Human Services created something called the Early Retiree Reinsurance Program. The program's objective was to provide up to $5 billion for health care for early retirees.

From Byron York's report in the Washington Examiner:

Where is the money going? According to the new report, the biggest single recipient of an early-retiree bailout is the United Auto Workers, which has so far received $206,798,086. Other big recipients include AT&T, which received $140,022,949, and Verizon, which received $91,702,538. General Electric, in the news recently for not paying any U.S. taxes last year, received $36,607,818. General Motors, recipient of a massive government bailout, received $19,002,669.

The program also paid large sums of money to state governments. The Public Employees Retirement System of Ohio received $70,557,764; the Teacher Retirement System of Texas received $68,074,118; the California Public Employees Retirement System, or CalPERS, received $57,834,267; the Georgia Department of Community Health received $57,936,127; and the state of New York received $47,869,044. Other states received lesser but still substantial sums.

But payments to individual states were dwarfed by the payout to the auto workers union, which received more than the states of New York, California, and Texas combined. Other unions also received government funds, including the United Food and Commercial Workers, the United Mine Workers, and the Teamsters.

Read more at the Washington Examiner: http://washingtonexaminer.com/blogs/beltway-confidential/2011/03/uncovered-new-2-billion-bailout-obamacare#ixzz1IZfdkxqv

Bad enough that corporations like General Electric, a big corporate backer of Obama and one that pays NO federal taxes, but big labor cleans up as well.

I guess big labor has to keep those early retirees healthy so they can volunteer to man the picket lines in states like Wisconsin and protest about how bad off they are!