President Trump has been clashing with both Democrats and Republicans in his pursuit to ‘repeal and replace’ Obamacare, but it seems that he’s found other ways to achieve his goal. After slashing expenditures to the bloated healthcare bill however, it was discovered that a whopping $90 billion was being quietly funneled elsewhere.
Trump has faced ample resistance from both the left and the right, in his quest to repeal and replace Obamacare—even members of the GOP such as John McCain and Rand Paul have voted against the bill, each having their own separate reasons.
McCain claimed that a bi-partisan healthcare bill was the problem in the first place, and that simply passing one that only Republicans liked wouldn’t solve anything. Rand Paul, being a libertarian, stated that we shouldn’t replace Obamacare at all—in fact, he believes we should let the private sector handle healthcare.
President Trump eventually grew tired of Congress and their inability to pass any meaningful legislation, so he began signing executive orders to defund critical components of Obamacare. In the process however, it’s been discovered that a $90 billion discrepancy has likely been stolen from taxpayers and funneled into Obamacare.
According to Daily Caller, President Trump has rolled back funding for a key program intended to help people navigate Obamacare, he’s signed an executive order to increase competition for insurance companies across state lines, and he’s even stopped federal funding for Obamacare subsidies.
Over the course of his first nine months in office, he rolled back funding for a program intended to help individuals navigate the insurance marketplace, signed an executive order to allow for groups to purchase insurance across state lines and stopped federal funding for Obamacare subsidies.
Taken in tandem, it appears the administration is working to overhaul the American health care system without the help of Congress, a body that has failed a handful of times to repeal and replace Obamacare during the first months of Trump’s presidency.
Each of these actions has a significant impact on the viability of the current health care system.
However there’s still a massive source that’s been funding Obamacare, and it’s been largely hidden from the American public. Allen B. West, former US Representative, author, Army Lieutenant Colonel, and political commentator, reports that Fannie Mae and Freddie Mac have been quietly funding the Treasury at the expense of the US citizens.
If Trump truly wants to deal the coup de grâce to Obamacare, there’s still a massive source of funding for the law that Barack Obama deceptively implemented, and it relates to the one last piece of unfinished business from the past financial crisis: the status of mortgage giants Fannie Mae and Freddie Mac.
Having required massive bailouts in 2008, the two corporations were placed under control of the U.S. Treasury. Initially, the two organizations agreed to pay the Treasury a dividend each year equivalent to 10 percent of the bailout funds they took, and the Treasury was also issued warrants granting them the equivalent of a 79.9 percent equity stake in the two companies.
Since the two giants recovered faster than expected and became profitable, the Obama administration saw better returns in seizing the profits of Fannie and Freddie instead.
Since 2012, every quarter, the two giants have been sending 100 percent of their profits to the Treasury, rewarding the Treasury handsomely.
Despite the fact that taxpayers bailed out Fannie and Freddie to the tune of $187.5 billion, the Federal government has been paid back $275.8 billion thus far — or nearly $90 billion in excess of that figure.
And what have the funds been used for? Our current Treasury Secretary Steve Mnuchin has already admitted what many had speculated: that the funds were being used to fund Obamacare.
What’s worse however, is that this could end up severely harming US taxpayers the time we need our cash the most. Due to Freddie and Fannie having their profits confiscated by the leftover Obama administration, they can never retain any cash reserves of their own.
Therefore, once we hit an economic recession and the banks become unprofitable, the American taxpayer will have to foot the bill. While some have argued that Obama did what was necessary in order to revive our struggling economy, others have argued that the free market is far more efficient at regulating economies than any government.