Tag Archive: $1 billion


Healthcare.gov Pricetag Was $1 Billion And Counting ..As Of September 30th

 

 

 

 

 

 

 

” If you asked ten people how much U.S. taxpayers spent on the embarrassingly non-functional Healthcare.gov website and exchage, you’d probably get ten different answers.  The official number offered by the Government Accountability Office is $394 million.  While that’s an awful lot of money, nobody believed it was anywhere close to an accurate figure. The more popular estimate was in the $600 million range but, now, even that seems downright reasonable.

   Bloomberg Government has an analysis which claims that the total cost of federal ACA implementation has easily topped $1 Billion and that it happened way back on September 30th. 

  Although the Affordable Care Act has been law for three and a half years, one third of the funds going to the top contractors working on the federal exchanges were awarded in the six months before the new insurance marketplaces opened Oct. 1, a Bloomberg Government Analysis has found.

  The torrent of late spending — almost $352 million of $1 billion in awards to the top 10 contractors — indicates the magnitude of the work still to be done as opening day approached, and helps explain the information technology problems that have dogged the exchange system since its launch. In a typical IT project, spending ramps up to a peak, then trails off during the final phase.”

 

 

   A billion dollars spent and nothing to show for it but enriched cronies and 404 messages . Now that’s Hope & Change®

 

 

 

 

 

 

 

 

 

 

The 10 Richest Colleges in America

 

 

 

” As tuition costs continue to mount at universities across the nation, some colleges are sitting on mountains of cash.

And while some of that cash goes to regular campus operations or scholarships for students with financial need, many schools don’t really use it at all, investing the money to fund big future projects. And sometimes, when the economy tanks, the money simply gets lost in the market.

Private schools rely on alumni and corporate sponsors to raise funds for the school’s endowment fund, and while some endowments face restrictions in how money gets spent (as in some donations can be spent only after a certain amount of time, or can be invested only so as to use the profits, not the capital), many leading universities have taken criticism for collecting the money and sitting on it while raising costs for students.

The most recent comprehensive endowment study from the National Association of College and University Business Owners, which evaluated the endowment funds for 839 institutions in the U.S. as of last year, found 75 with more than $1 billion in the bank.

Here are the 10 richest universities in the U.S.”