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Tuesday, April 5, 2011
OBAMA'S TAX PAYER SLUSH FUND
Well, if you haven't heard about it yet, you will soon. It was all over the news for the last few days. But I'll fill you in here and now. ObamaCare, we all know what this government power grab was all about. Of course, America really needed to have it forced upon us. And we aren't supposed to be concerned that over 1,000 businesses and most unions have been given waivers and don't have to be involved in the plan. And as the details leak out the taxpayers continue to be the patsy. Yesterday it was disclosed that contained in ObamaCare is a $5 billion slush fund. It's officially called the Early Retirement Reissuance Program, or ERRP for short. It is designed to help companies pay the costs of health care for their early retirees. So far over $2 billion has been given away, and the other $3 billion is spoken for, so a program that was supposed to last until 2014 will be out of money by mid-2012. Yesterday Obama slaves announced that they were closing the program because the money was all used up. Yep, another case where the Obama fools miscalculated the real dollar amount of their give away. No wonder they don't have a 2010 budget yet, well into 2011. They can't add! Anyway, you are probably thinking, well, another giveaway, what's the big deal? They've become so common with Obama's Tooth Fairy approach to taxpayer money. So here's the Big Deal! The recipient list reads like a list of Obama's top campaign donors, with six of the top ten being labor unions. Nowhere on the list are companies with a true financial need. The money is going to Obama Cronies. So here goes, THE LIST: UAW (auto workers' union), $207 million, a real sweet deal for auto workers. But wait, UAW had already received $3.4 billion from Obama's GM bailout. AT & T, $141 million, and of course, AT & T really needed tax dollars. They only had a NET PROFIT in 2010 of almost $20 billion and around $55.5 billion over the last four years. And there's more. AT & T is the biggest political campaign donor since 1990, and they greased the political wheel to the tune of $15.4 million in 2010. They apparently give in order to get. General Motors, $20 million. GM, previously received a taxpayer bailout in the neighborhood of $50 billion. GM profit for 2010 was $4.7 billion, but they still were given $20 million in ERRP money. Oh, I must not forget to tell you. The Obama Car, the Chevy Volt, which the government helped them build? GM is after yet another government handout to help them market this stinker of an auto. Seems like very few people want the car, so GM is getting a real "frosting on the cake" handout - a $7500 tax credit per vehicle. Oh, and it wouldn't be fair if I didn't mention the rest of the unions who were on the receiving end of ERRP funds. More than $6 million went to various Teamsters unions. Millions went to the United Mine Workers, AFL-CIO, United Food and Commercial Workers, and the American Federation of State, County and Municipal Employees (AFSCME). In case you didn't know, that's the union that's boycotting Wisconsin businesses who don't walk the union walk. And let's not forget Jeffy Immelt, former head of GE, one of the most frequent visitors at the White House to see his buddy Obama. GE got over $36 million in ERRP funding, while GE made $14 billion in 2010 profit and paid ZERO income tax on that money. GE donated $500 million in campaign cash in 2008 to elect our ethical President so we could all have change we can believe in. I guess the donated money was money well spent by GE. And in case you've forgotten or didn't know, the government (you and me) guaranteed $340 billion of the debt that GE's financial services arm had amassed to -- yup, you got it -- bail them out, prop them up, or buy them off - you can call it whatever you want to call it. It amounts to fraud and cronyism. But then, what's a billion here or a billion there? It's just funny money, printed in the Monopoly Money Room. Oh, yes, can't forget Verizon. They got $92 million in ERRP funds too. They spent $16.75 million in lobbying politicians in 2010. Verizon was surely needy. Their 2010 revenues were $106.6 billion, and their net profit was over $33 billion. But they needed our cash so Obama ponied up the bucks. See how this works? It's government sold to the highest bidder. It's Chicago politics in Washington. It's how every banana republic operates. Obama and the Dems have their very own personal ATM, using our money, handing out cash like cotton candy. And we are supposed to "shut up and sit in the back of the bus." It's sick, it's twisted, and it's now out in the open for all of us to see. Just open your eyes. Now I know some of you are going to say "but these companies donated to both Republican and Democratic candidates," and you'd be somewhat right. Most of it goes to Dems, but yes, some does to to Reps. But go back to the beginning of this post. This slimy provision was put into Obamacare by Obama and Crew. So please be sure to point your finger in the right direction.