April 6, 2011
Two mainstream news organizations are receiving hundreds of thousands of taxpayer dollars from Obamacare’s Early Retiree Reinsurance Program (ERRP) — a $5 billion grant program that’s doling out cash to companies, states and labor unions in what the Obama administration considers an effort to pay for health insurance for early retirees. The Washington Post Company raked in $573,217 in taxpayer subsidies and CBS Corporation secured $722,388 worth of Americans’ money.
“It is fine with me if they continue covering the ObamaCare debate,” said Rep. Marsha Blackburn, Republican of Tennessee, in an e-mail to The Daily Caller. “When NBC used to cover energy issues, they identified themselves as a subsidiary of General Electric. CBS and Washington Post just have to disclose that they are subsidiaries of the Obama Administration.”
The ERRP, which Republicans call a slush fund, provides taxpayer money to Obama administration-selected states, companies and labor unions with already-in-place early retiree health insurance programs, and aims to make certain that their employees who retire early still have health insurance coverage before they reach Medicare eligibility age. Almost $2 billion of the $5 billion fund, which was supposed to last until 2014, has already been distributed to corporations. New projections expect the funding to run out before the end of 2012, if not sooner.
This article was posted: Wednesday, April 6, 2011 at 10:36 am