Obama “Slush” Fund Pays for News Media Pensions
Posted on April 6, 2011 by Jane Jamison
NBC is also on the GE Obama stimulus payroll, so now he’s buying friends in the Washington Post and CBS?
Obama just gave ‘change’ to his media buddies: in loose coins, that comes to $573,217 for the Washington Post and $722,388 for CBS.
Naturally, Barack wasn’t so gauche as to dip into his own pocket to pay for it. Instead, he got that money from a mysterious fund in the Healthcare package called the “Early Retiree Reinsurance Program”. Did you know about ERRP? Nope, neither did I. But a whole lot of Bama’s buddies sure have because they’ve been siphoning money off it by the handfuls. The ERRP was started last year with a $5 billion kitty with the funds meant to last until 2014. But less than a year later, the fund has already spent half its money and the rest is pouring out so fast that it will all certainly be gone by the end of 2011.
When you first see the fund’s purpose written down on paper, it certainly sounds noble: providing aid to organizations so they can pay for health insurance for their employees who are retiring early. But the kicker is, which organizations? Well, it’s “selected states, companies and labor unions”. And since we can all guess who’s doing the ‘selecting’, it’s no surprise Obama’s friends have such big grins on their faces. The ones with smiles from ear to ear are the United Auto Workers union which got $206,798,086, AT&T who received $140,022,949, and IBM which hauled in $12,989,690. Poor little General Electric ‘only’ received $36,607,818; but before you bring out the hankies for them, you should realize that GE just used a taxpayer loophole (which Obama refused to close) to avoid paying any U.S. taxes last year. Yes, Obama’s buddies are happy and he sure is sporting a big grin himself.
But Congress is furious; or at least those members of it who are Republican. They’re calling it ‘Obama’s slush fund’. Florida Rep. Cliff Stearns (who chairs the House Energy and Commerce Committee’s Subcommittee on Oversight and Investigations) tried to nail a government official to find out how the fund decides who gets what and how much, but Stearns only got the run around. He’s particularly incensed that the news organizations got money from the Healthcare package. Stating the obvious, he asked “How can the Washington Post and CBS be impartial on the issue of health care when they received funding under the health care law?” Not surprisingly, the Washington Post “declined to comment”.
Well, the media may be close lipped about all this money but the money itself is loudly answering one question for all us citizens with 20/20 vision. We finally realize why the media has been insisting that a pot-bellied, nasty-faced First Lady who dresses like a blind hooker is called a “fashion icon.”
Michelle Obama wearing a "boob tube" ...in honor of CBS?
2 hours ago