Tag Archive: Financial Ruin


Obamacare Doc Reveals ‘Drop Dead’ Date For Back End Fixes

 

 

” Apparently, Obamacare is in a lot bigger trouble than anyone has let on — or anyone has imagined.

  A document given to the contractor who replaced CGI in December shows how truly desperate is the position of the government.

  Accenture has been tasked with finishing the construction of the healthcare.gov website — specifically, the back end of the site which will allow the transfer of subsidies directly to insurance companies.

  The document makes it clear that the reason CGI was let go was because the government had no confidence that the company could affect the changes necessary to get the payment system up and running in time to avoid disaster.

The Hill reports:

  The document said officials realized in December that the need to bring on Accenture was so urgent that there was no time to go through the “full and open competition process” before awarding them with a $91 million contract.

There is limited time to build this functionality and failure to deliver…by mid-March 2014 will result in financial harm to the government,” the document says.”

 

Read on

 

 

 

 

 

 

 

 State Takeover Looms In Detroit

 

 

 

 

” Is the governor caving to pressure from the suburbs?  Detroit City President Charles Pugh said that’s a fact , as Rick Snyder on Friday declared a financial emergency in Detroit, setting the stage for a state takeover.

Pugh said, however, while there is pressure from outside the city, he’s certain there are people within Detroit who would welcome a state-appointed emergency financial manager.”

 

 

Because they’re doing such a good job on their own …

 

Detroit In Pictures

US Urban Misery – Forbes List 2013

40 Years Of ” Blue ” Governance Leaves A Mark

 

 

 

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New Study Confirms Economy Was Destroyed By Democrat Policies

 

U.S. Rep. Barney Frank (D-MA), Sen. Charles Schumer (D-NY) and Sen. Christopher Dodd (D-CT) brief the media after a meeting on Capitol Hill

Alex Wong:Getty Images

 

 

” A new study from the widely respected National Bureau of Economic Research released this week has confirmed beyond question that the left’s race-baiting attacks on the housing market (the Community Reinvestment Act–enacted under Carter, made shockingly more aggressive under Clinton) is directly responsible for imploding the housing market and destroying the economy.

The study painstakingly sorted through failed home loans that caused the housing market collapse and identified an overwhelming connection between them and CRA mortgages.

Again, let’s review:

-President Bush went to Congress repeatedly for years warning them that Fannie Mae and Freddie Mac were going to destroy the economy (17 times in 2008 alone). Democrats continuously ignored him, shut down his proposals along party lines and continued raiding the institutions for campaign contributions on their way down.”

 

  Not really news to us that pay attention , but still nice to see in print from a significant news source .