Thursday, September 10, 2009

Ah, Yes. Gummint "Efficiency"

No doubt that ObamaCare will deliver "efficiency" to put commercial insurers to shame.


Let's examine (Hot Air did) another ObamaProgram.

Transportation Secretary Ray LaHood says the government has approved $1.22 billion in reimbursements to car dealers for sales under the Cash for Clunkers program. …

The rebates led to more than 690,000 new car sales at a taxpayer cost of $2.88 billion

Total, $4.0Bn dollars spent.

$2.88Bn on Gummint Overhead.

$1.12Bn of reimbursements.

That's FIFTY-EIGHT PERCENT for overhead.....


Jay Bullock said...

Important correction: See update below.

CapnEd says.

Assuming that the average rebate comes out to $3500 (the program used a sliding scale), that comes to about a 4% overhead.


And what's funny is that Ed continues: "That might not be bad for a health insurer, but for a rebate program?" In fact, that's about half the real administrative costs of Medicare and about 1/7 the real administrative costs of your average private health insurer.

Um, WIN?

Jay Bullock said...

And no correction from you. Classy!