Detroit proposes using Obamacare as bailout

  • by:
  • 08/21/2022

Detroit spent all its money and then some, and now it plans to solve its financial woes by dipping its hands more deeply into the federal purse.

Treasury Secretary Jack Lew said on Sunday that a direct federal bailout for the bankrupt Motor City is out of the question, but Detroit has something else in mind.

FoxNews reports the city has $5.7 billion in outstanding retiree health costs, and plans to take retirees too young to qualify for Medicare and send them into the ObamaCare insurance markets, thus increasing the burden on the federal government, with subsidies from ObamaCare being provided by federal taxpayers.

The New York Times reported that Detroit is proposing a plan aimed at “reducing” its $5.7 billion in outstanding retiree health costs, when in reality, the costs are simply being shifted elsewhere. The Times also reported Chicago and other economically unsound cities are also “contemplating shifting retirees onto the insurance exchanges.”

Fox points out that Detroit’s savvy plan is dependent upon Obamacare’s exchanges happening as scheduled at the beginning of 2014.

Image:
ADVERTISEMENT

Opinion

View All

British schoolchildren more violent due to lockdown–causes developmental delays: BBC study

Nearly one in five teachers at schools across England reported being hit by a student in the past yea...

London features 'Happy Ramadan' lights throughout city over Easter weekend

The lights have drawn criticism from prominent conservatives who insisted that the council ought to s...

Polish foreign minister claims US was aware of Nord Stream pipeline attack but 'did not prevent it'

Radoslaw Sikorski suggested it was done by "someone who had a vested interest in it."...