In a newly released report, the Government Accountability Office (GAO) estimates that, in fiscal year 2010, $48 billion in taxpayer money was squandered on fraudulent or improper Medicare claims. Meanwhile, the nation’s ten largest health insurance companies made combined profits of $12.7 billion in 2010 (according to Fortune 500). In other words, for every $1 made by the nation’s ten largest insurers, Medicare lost nearly $4.
And the terminally libertarded just can’t fathom why so many are so opposed to Obamacare; they simply cannot fathom that it’s NOT because we hate poor people, but because government FUCKS UP EVERYTHING IT TOUCHES. Only government can waste $50 billion and just shrug it off as a market failure.
This is sobering news for the minority of Americans who (for some reason) continue to think that government-run health care is a model of efficiency and cost-effectiveness.
I fucking doubt it.
2011-04-01 » madlibertarianguy