In fact, according to a CBS 60 Minutes report that aired last weekend, an estimated $60 billion out of $430 billion in annual Medicaid disbursements goes to fund fraudulent Medicaid claims.
That means one out of every seven dollars spent on Medicaid goes toward fraud – one reason why the program has seen skyrocketing annual premium increases in recent years, and one reason why its hospital trust fund is forecast to run out of money within the coming decade.
In South Florida, CBS found that Medicaid fraud had replaced cocaine traffic as the most lucrative criminal enterprise.
Why would a program that’s ostensibly so vital to the health of the nation be allowed to pour so much money down the drain?
“Our oversight budget has been extremely limited,” the government’s top anti-fraud bureaucrat complained to CBS, revealing another flaw of the “public option.”
Whenever these government-run monstrosities break down – and they always break down – every American taxpayer is suddenly on the hook for the “bailout.”
Is this really the sort of system we want to expand – perhaps to include as many as 100 million new Americans? Of course not. But that’s exactly what would happen under the plan currently being debated in Washington.
Obviously, proponents of Obama’s socialized medicine proposal are very well aware of the public’s skepticism when it comes to supporting unsustainable entitlement programs – which is why they are hiding the greatest government power grab since the “Great Society” beneath a cloak of capitalist-sounding terms like “market principles,” “choice” and “competition.”
Don’t be fooled. The only “choice” Americans will receive in this “market” will be left exclusively to government bureaucrats, whose definition of “competition” is racking up exorbitant costs to provide substandard service – and then sticking you with an ever-expanding bill.