Posts Tagged With: collapse

ObamaCare headed for trillion-dollar collapse….


The nation’s largest private insurer has decided to pull out of ObamaCare in all but “a handful” of markets, a move that is likely to touch off insurance premium spikes that could cost customers over $1,000 a year — and possibly could lead to a collapse of the entire system.

After losing $1 billion over the last two years, the UnitedHealth Group has announced it will no longer provide ObamaCare coverage in virtually all of the 34 state ObamaCare exchanges where it sells health insurance – despite over $1 trillion in pledged support over the next 10 years.

If no other company steps in to fill the unprofitable vacuum, it will leave ObamaCare markets ready to implode in much of the country .

To be able to function, a state exchange must have at least three insurance companies competing for customers, according to the Kaiser Family Foundation.

If UnitedHealth leaves the ObamaCare exchanges altogether, that will leave 53 percent of Americans – 2.4 million people in mostly small towns and rural areas – with one or two insurers to choose from. It would cause the number of people who have only one insurance provider available to more than quadruple.

In much of the country, people would have only one insurance company to “choose” from.

This isn’t exactly what the president promised when he pitched the Affordable Care Act. In 2013, President Obama said, “This law means more choice, more competition, lower costs for millions of Americans.” Chalk up another one of ObamaCare’s broken promises.

After hearing that UnitedHealth may be heading for the exits, a spokesman for the Centers for Medicare & Medicaid Services responded by saying, apparently without any hint of irony, “The marketplace should be judged by the choices it offers consumers.”

That would be none.

Obviously, decreasing the supply will trigger price increases – a fact ObamaCare’s defenders are trying their best to minimize. UnitedHealth’s departure, they say, would only cause the premium of the national benchmark plan to rise by one percent.

But people don’t pay the national benchmark’s price. Their rate is based on their local market.

In 13 counties, if UnitedHealth leaves the market, customers will pay more than $100 in extra premiums every single month. In 304 counties, the difference would be between $25 and $100 monthly, or $300 to $1,200 a year for each insurance policy.

The impact will be more catastrophic if any of the other Big Five insurers follows UnitedHealth out the door. Aetna has hinted it may do so. Its CEO, Mark Bertolini, said its ObamaCare “business remained unprofitable in 2015, and we continue to have serious concerns about the sustainability of the public exchanges.”

The companies are the latest, but far from the only, victims of the Affordable Care Act, which President Obama promised would insure more people with more serious health problems while somehow cutting costs. A series of financial tricks and bureaucratic regulations were designed to keep the public from seeing its true price tag.

One of those was to deny insurance companies the ability to charge fees based on the patient’s health and likely burden to others – the only way to remain solvent.

As The Horn News reported, 12 of the nation’s 23 ObamaCare co-ops have already failed, and the entire system appears to entering a “death spiral.”

Desperate to stop the red ink, insurance companies have increased premiums, sometimes by 30 percent or more a year.

For the most part, this has remained hidden to the consumer, because of another ObamaCare gimmick: taxpayer subsidies.

About 85 percent of ObamaCare recipients qualify for some taxpayer funding to offset their premiums. Despite double-digit premium increases, after we all chip in to pay their insurance bill, most consumers have only seen the price they pay increase by four percent.

Of course, that’s a parlor trick. The subsidies are paid for by taxes. So, the Obama administration is just taking money from the consumer’s right pocket and putting it in his left pocket, after taking a hefty bite out of it in transit.

The system has also shifted 68 million people –- 16 million more than anticipated -– onto state health care, either Medicaid or CHIP programs for children. This continues to leach away money from the productive economy into the government’s coffers.

And as time goes on, and ObamaCare becomes more unstable, the amount American taxpayers fork over is only going to increase. According to a new CBO report, ObamaCare subsidies will increase $1.1 trillion over the next decade.

That is, if Aetna or another of the Big Five insurers doesn’t follow UnitedHealth’s lead and leave the ObamaCare exchanges to collapse like a house of cards.

Categories: Obama, Obamacare, Politics, Uncategorized | Tags: , , , , , , | 2 Comments

The House of Liberalism and it’s collapse, by Daniel Bongino


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We are watching, in real time, the collapse of the big-government model on which the house of liberalism has been built. The only question remaining is, when will those on the far left accept the results, rather than the intentions of the big government model?

President Obama ran on the idea that a big government can solve big problems, yet this model has not only not solved any of our big problems, but it has created new ones, while aggravating old ones created by prior administrations.

Think about where we find ourselves. We are in the midst of a border crisis on our southern border, a civil war in Iraq, an aggressive expansion of Russian territory, a historically unpopular healthcare initiative, record numbers of Americans both outside of our workforce and receiving disability payments from the government, a crisis where our own IRS admits to targeting Americans, then pleads the 5th, then “loses” only the emails of the suspects involved, destroys their hard-drives and tells us nothing is wrong. And where is our President on these issues? He is issuing public statements on how he disagrees with the name of an NFL team. Calling this leadership is either willfully misleading or un-willfully blind.

If “Bush did it”, then Obama “did it” worse. If we are going to blame Bush for starting the house fire, isn’t it fair to blame Obama for pouring gasoline on it?

November is rapidly approaching and yes, voting matters. If you believe otherwise, we’ll take action while you sit back and just take it. Stand up, fight back, and cede no more ground.

 

Categories: Politics | Tags: , , , , , , , , , , | Leave a comment

Magnitude-5.1 earthquake shakes Los Angeles…..


LOS ANGELES (AP) — A magnitude-5.1 earthquake centered near Los Angeles caused no major damage but jittered nerves throughout the region as dozens of aftershocks struck into the night.

The U.S. Geological Survey said the quake struck at about 9:09 p.m. Friday and was centered near Brea in Orange County — about 20 miles southeast of downtown Los Angeles — at a depth of about 5 miles. It was felt as far south as San Diego and as far north as Ventura County, according to citizen responses collected online by the USGS.

Broken glass, gas leaks, water main breaks and a rockslide were reported near the epicenter, according to Twitter updates from local authorities.

Eyewitness photos and videos show bottles and packages strewn on store floors. Southern California Edison reported power outages to about 2,000 customers following the quake.

More than two dozen aftershocks ranging from magnitudes 2 to 3.6 were recorded, according to the USGS. Earlier in the evening, two foreshocks registering at magnitude-3.6 and magnitude-2.1 hit nearby in the city of La Habra.

Public safety officials said crews were inspecting bridges, dams, rail tracks and other infrastructure systems for signs of damage. The Brea police department said the rock slide in the Carbon Canyon area caused a car to overturn, and the people inside the car sustained minor injuries.

Callers to KNX-AM reported seeing a brick wall collapse, water sloshing in a swimming pool and wires and trees swaying back and forth. One caller said he was in a movie theater lobby in Brea when the quake struck.

“A lot of the glass in the place shook like crazy,” he said. “It started like a roll and then it started shaking like crazy. Everybody ran outside, hugging each other in the streets.”

A helicopter news reporter from KNBC-TV reported from above that rides at Disneyland in Anaheim — several miles from the epicenter — were stopped as a precaution.

Hall of Fame announcer Vin Scully was on the air calling the Angels-Dodgers exhibition game in the sixth inning at Dodger Stadium.

“A little tremor here in the ballpark. I’m not sure if the folks felt it, but we certainly felt it here in press box row,” Scully said. “A tremor and only that, thank goodness.”

Tom Connolly, a Boeing employee who lives in La Mirada, the next town over from La Habra, said the magnitude-5.1 quake lasted about 30 seconds.

“We felt a really good jolt. It was a long rumble and it just didn’t feel like it would end,” he told The Associated Press by phone. “Right in the beginning it shook really hard, so it was a little unnerving. People got quiet and started bracing themselves by holding on to each other. It was a little scary.”

Friday’s quake hit a week after a pre-dawn magnitude-4.4 quake centered in the San Fernando Valley rattled a swath of Southern California. That jolt shook buildings and rattled nerves, but did not cause significant damage.

Southern California has not experienced a devastating earthquake since the 1994 magnitude-6.7 Northridge quake killed several dozen people and caused $25 billion in damage.

Preliminary data suggest Friday night’s 5.1 magnitude earthquake occurred near the Puente Hills thrust fault, which stretches from the San Gabriel Valley to downtown Los Angeles and caused the 1987 Whittier Narrows earthquake, USGS seismologist Lucy Jones said.

“It’s a place where we’ve had a lot of earthquakes in the past,” she said.

The 5.9 Whittier Narrows quake killed eight people and caused $360 million in damage

Categories: Strange News, Uncategorized | Tags: , , , , , , , , | Leave a comment

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