‘Net worth sweep’ and Obamacare’s endless bailouts

One Obamacare bailout folks are familiar with is for "risk corridors."  Those bailouts involve direct payments to insurance companies that suffer losses in the Obamacare exchanges.  A less well known bailout is "Net Worth Sweep," which involve raids on private property. On March 23, the Daily Caller ran Drew Johnson's "Trump Should Stop Obama Scheme That Steals Money For Obamacare."  Johnson reports on the theft of monies from both Fannie Mae and Freddie Mac to give to health insurance companies that can't make a profit under Obamacare: Since 2013, however, all of the profits generated by Fannie and Freddie have been swept into the Treasury Department's general funds. Not a dime has been returned to investors or set aside for a rainy day. This raiding of Fannie and Freddie profits has become known as the "Net Worth Sweep." The maneuver, which takes place regularly with no Congressional authority,...(Read Full Post)

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