As President Trump’s position on the Alexander-Murray Obamacare stabilization plan whipsawed throughout the day on Tuesday, he started to use the term “bailout” more and more to describe the subsidies that help the neediest Americans afford health care.
To be clear: Providing funds for Americans who need health insurance is not a bailout of the insurance companies. It’s support for our aunts, uncles, brothers, and sisters who need help with cancer treatment, pre-natal care, or surgery.
When the financial industry, fueled by greed and gross mismanagement, brought the U.S economy to the brink of a depression, the big banks needed a bailout. The bank bailout cost taxpayers an estimated 700 billion dollars. The banks made poor decisions (and lots of money) leading up to the crash and taxpayers bailed them out.
Paul Ryan and Donald Trump can call them bailouts, but the Obamacare subsidies are simply a way to help Americans pay for health insurance.
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