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[PaceAdvantage]

An interesting piece sent to me by our long lost pal, JustRalph:

All of that tax money you loaned to the Obamacare co-ops? That’s probably gone

http://hotair.com/archives/2016/03/1...probably-gone/

The key thing to observe here, which I alluded to above, is that this was not the cost of the program as an approved spending initiative. If the House of Representatives had approved that money as spending and it went south, well… you can’t win ’em all. But much like the Detroit auto industry bailout, these were taxpayer backed loans which were expected to be repaid with interest. Another parallel is the Export Import Bank which makes taxpayer backed loans on a regular basis, though with an admittedly far better record of repayment. If the loan goes bad and the money isn’t returned, that’s our taxpayer dollars gone down a rat hole with no return.

When you combine the shaky nature of the investment which Ed described with the political climate surrounding it, the results are clear. This was a program which a first year economics student should have been able to identify as a sinking ship, but the Democrats were motivated by political reasons to keep flushing cash into it to preserve the tale they were spinning about the American healthcare market. Those assumptions proved false and now a billion dollars of your money has sailed off into the sunset.