No doubt that ObamaCare will deliver "efficiency" to put commercial insurers to shame.
/Sarcasm
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.....
Important correction: See update below.
ReplyDeleteCapnEd says.
Assuming that the average rebate comes out to $3500 (the program used a sliding scale), that comes to about a 4% overhead.
4%<58%.
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?
And no correction from you. Classy!
ReplyDelete