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Trump Timeline ... Trumpocalypse
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President Donald Trump is halting some Obamacare subsidies. A big money saver for taxpayers, right? Wrong. The move could actually force the government to dole out almost $200 billion more on health insurance over the next decade.
Here’s why: The insurer payouts Trump cut off aren’t the only government funds financing the program. Consumers also can get help with their insurance premiums. When the insurer subsidies are discontinued, those premiums are pushed higher -- and because the consumer subsidies are far bigger than those given to insurers, that’s a costly trade.
More than eight in ten individuals who buy Obamacare plans get help paying their premiums directly from the federal government. Those subsidies effectively cap how much people have to pay for insurance as a percentage of their income.
Even if premiums climb, people who receive those benefits won’t pay more out of their own pockets. The subsidies are available to people making as much as four times the federal poverty level, or just over $97,000 for a family of four.
That means that those most likely to be hurt by the president’s action aren’t low-income people who will still get help with their costs. Instead, consumers who make too much money to qualify for subsidies will now have to pay a much higher price for their health plans.
It all adds up to a hefty bill for taxpayers for as long as the Affordable Care Act is the law of the land. The Congressional Budget Office estimated that ending the cost-sharing payments would increase the U.S. fiscal shortfall by $194 billion over the next decade as subsidy outlays jump.
President Donald Trump is halting some Obamacare subsidies. A big money saver for taxpayers, right? Wrong. The move could actually force the government to dole out almost $200 billion more on health insurance over the next decade.
Here’s why: The insurer payouts Trump cut off aren’t the only government funds financing the program. Consumers also can get help with their insurance premiums. When the insurer subsidies are discontinued, those premiums are pushed higher -- and because the consumer subsidies are far bigger than those given to insurers, that’s a costly trade.
More than eight in ten individuals who buy Obamacare plans get help paying their premiums directly from the federal government. Those subsidies effectively cap how much people have to pay for insurance as a percentage of their income.
Even if premiums climb, people who receive those benefits won’t pay more out of their own pockets. The subsidies are available to people making as much as four times the federal poverty level, or just over $97,000 for a family of four.
That means that those most likely to be hurt by the president’s action aren’t low-income people who will still get help with their costs. Instead, consumers who make too much money to qualify for subsidies will now have to pay a much higher price for their health plans.
It all adds up to a hefty bill for taxpayers for as long as the Affordable Care Act is the law of the land. The Congressional Budget Office estimated that ending the cost-sharing payments would increase the U.S. fiscal shortfall by $194 billion over the next decade as subsidy outlays jump.
In perfect Trumpian fashion, The Unquotable Trump will be a 48-page treasury annual—needlessly oversized and garishly colored; a throw-back to the past when both Comics and America were Great. This will be the hugest comic, truly a great comic. You won’t want to miss this, trust me, you’ll see! https://www.drawnandquarterly.com/unquotable-trump
Excerpts - https://www.drawnandquarterly.com/sites/default/files/docs/samples/unquotabletrump_9pgsample.pdf
Excerpts - https://www.drawnandquarterly.com/sites/default/files/docs/samples/unquotabletrump_9pgsample.pdf
A federal judge on Friday turned down the Justice Department’s request to dramatically scale back the reach of an injunction he’d issued against the Trump administration’s targeting of so-called sanctuary cities.
Last month, U.S. District Court Judge Harry Leinenweber granted the City of Chicago’s request for a nationwide block on the Justice Department’s plan to insist that cities and counties receiving public-safety grants allow immigration agents access to local jails and give local authorities advance notice when suspected illegal immigrants are about to be released from custody.
Justice Department lawyers asked Leinenweber to stay his order so that it would benefit only Chicago and would not stop application of the proposed new requirements to other jurisdictions applying for public-safety funding known as Byrne-JAG grants.
In a 17-page order issued Friday afternoon, Leinenweber, of the U.S. District Court for the Northern District of Illinois, declined to lift the nationwide aspect of the injunction. He said the conclusion he reached that the Justice Department’s policy appears to exceed its legal authority would not be affected by different factual scenarios in various places across the country.
“A nationwide injunction is necessary to provide complete relief from the likely constitutional violation at issue here,” the judge wrote. “The Attorney General’s authority to impose Byrne JAG conditions on the City will not differ from his authority to do so elsewhere. No additional evidence is needed to justify the nationwide scope of the injunction because the Attorney General’s authority does not vary state by state. … The rule of law is undermined where a court holds that the Attorney General is likely engaging in legally unauthorized conduct, but nevertheless allows that conduct in other jurisdictions across the country.”
Leinenweber noted that the Justice Department recently asked the Supreme Court to rein in the nationwide aspect of rulings blocking President Donald Trump’s travel ban, but that a majority of the justices — acting on a stay request and not issuing a final ruling in the cases — declined to perform that sort of geographic narrowing.
“The Attorney General’s argument to stay the [anti-sanctuary policy] injunction parallels that adopted by the dissent but clearly rejected by the majority of the Supreme Court,” the judge wrote. “Thus, the Court is duty-bound to reject it here as well.”
LONDON — Paul Manafort, a former campaign manager for President Donald Trump, has much stronger financial ties to a Russian oligarch than have been previously reported.
An NBC News investigation reveals that $26 million changed hands in the form of a loan between a company linked to Manafort and the oligarch, Oleg Deripaska, a billionaire with close ties to the Kremlin.
The loan brings the total of their known business dealings to around $60 million over the past decade, according to financial documents filed in Cyprus and the Cayman Islands.
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