The Obamacare Grift That Bankrupted America

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 The government shutdown isn’t about helping families—it’s about protecting corporate welfare for insurance giants. In this fiery episode:

• How Obamacare turned into a subsidy scam for UnitedHealthcare, Aetna, and Blue Cross
• The truth about skyrocketing premiums: up 140% since 2013
• Why Republicans refuse to kill it—they’re cashing the same lobby checks as Democrats
• The math nobody in Washington will say out loud: Obamacare is corporate socialism
• What real reform looks like—ending the middleman madness and letting doctors earn again

 If Republicans want to prove they stand for the people, this is their moment. Blow it up. Start over. Make healthcare make sense again.

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
Shutdown stupidity and quite frankly, you know, we got to
take a good hard look in a mirror American stupidity.
I've talked about this before when it comes to elections,
the reality we're at a point in time here in
this country where it's not about the independent vote, not
about it's about getting out the dumb vote. How do

(00:36):
you get out the dumb vote? You give people things?
And that's basically what Obamacare has been from the get go.
Why are we shut down? Why is the government shut down?
Government shut down because of more free money? And no
such a thing is free money. More money coming from

(00:57):
we the taxpayers. That frankly, quite frankly, is not going
to anybody. No, not not anybody, no individual person out there. Well,
it's helping people pay for their health insurance. And the
price of health insurance is gonna go through the roof
if we don't do this stuff. Let me favor shut
up Okay, I'm sick and tired of hearing the whining

(01:20):
about this. Okay, you wanted this, you wanted this. What
do you think happens when you subsidize something the price
goes up. I'm gonna break down how dumb this is,
and listen. I don't mean to be harsh, and I
don't mean to be mean to everybody out there, but
think for a second. Okay, let me put it to

(01:41):
you this way. You have a refrigerator. You bought a refrigerator,
and that refrigerator has been lousy. You've had it for
a period of time, and you've got to constantly have
guys come out and fix it. You got to put
money into it. It breaks again, it breaks again, And
the repair bill for the refrigerator, if you want to
get it fixed, is, I don't know, five hundred dollars,

(02:05):
five hundred dollars to fix refrigerate. They've already poured a
ton of money into this thing. Or or rather than
fixing the refrigerator, let's say you can go out and
buy a new refrigerator for two hundred and fifty dollars. Again,
I know these numbers aren't what they're selling stuff. The
best buy just just okay, humor me for a second.

(02:28):
Why would you fix a refrigerator? Why wouldn't you just
go out and get a new one. Obamacare, Obamacare hasn't
hasn't been good for America, hasn't been good for taxpayers,
and it hasn't been good for physicians. Who who's benefited

(02:48):
from Obamacare? I want you to think real hard insurance companies.
Insurance companies we forced Obamacare through sixteen years ago. Sixteen
years ago, forced it through. Premiums skyrocketed. How come I

(03:12):
can't get one person in the damn media out there
to say Obama said your insurance costs are going to
go down by twenty five hundred dollars. Premiums have skyrocketed.
Then during COVID, because we're just giving away cash. During COVID,
we add additional subsidies, ad additional What do you think

(03:37):
is going to happen? What do you think's gonna happen?
Oh guess what? The premiums went up even more. Basically,
this is corporate welfare. Corporate welfare that you have a
couple that with a whole ton of fraud, and we've

(03:57):
shut down the government to continue this scam. That's what's
going on. Why why can't you Republicans go out there
and explain this to people? Why why can't you do it?
You can't lay this out in front of people saying
this is been a disaster. It's been a disaster. Now now, yeah,

(04:21):
we got Republican and Democratic senators trading ideas and how
to open up the government and giving a temporary, temporary
reprieve on subsidies for health insurance. No, okay, you go
out you say, you know what, We're not going to
reopen the government. You know what, everybody don't buy health insurance.

(04:41):
What we're gonna do is we are gonna put the
stupid health insurance companies out of business goodbye. But that's
what I would do, I said, I'm telling everybody, don't
buy it. Don't wait, start making start making all everybody,
start paying, you know, charging what people can afford to

(05:02):
pay price their product according start lay I love it.
Start laying off all these middleman, all these paper pushers
at the hospitals, all this crap. I want to see
doctors make a little bit of money here, hey, in
a dime, the reimbursements of going into the toilet. Let
me go through some of the numbers here. Okay, paying

(05:24):
thousands upon thousands of dollars. This is a product that
is useless. It really is. It's useless. United Healthcare, Uh,
their revenue is fifty percent dependent upon government subsidies. You
remember freaking great boom and they're gone boom, no government.

(05:45):
But what's going to happen to them? They deny thirty
three percent of their claims. By the way, ETNA desies
twenty nine percent of their claims, Blue Cross, Blue Shield
denies eighteen percent of their claims. Elements sign U santeen
they deny sixteen to seventeen percent of their claims. Humana
and again they also handled the Military Benefits administration. It's

(06:09):
basically a government payer denies twelve percent. And of all
denied insurance claims in the entire United States, only one
percent of them are appealed, and of those appealed, only
forty six percent of that one percent are overturned. Health
insurance is a scam, it's a farce. It's the subsidy

(06:31):
is not for you. Okay, it's it's not for you.
It's corporate welfare. That's all it is. Can somebody please
lay this out to the American people. The only only
in people who have been that have benefited from this,
the only people, the only is the health insurance companies.

(06:53):
That's it. Do you know what Obamacare first went in,
there was like six I think six seven million pace
we're getting subsidies you now, it's about what twenty three
to twenty four million at this point in time. Yeah.
And the funny thing is they talk about the physicians
not getting paid when they do get paid, okay, because

(07:14):
again they there's always an adjustment lowering the reimbursement. And
it takes you how long it takes for a doctor
to get paid in stuff? Seventy one days on average,
seventy one days on average. We keep shoveling money at Obamacare.

(07:34):
They why are we cutting checks massive checks to insurance
companies forever and ever? It is dead? Why are we
going to extend it? Kill it? Put it away? This
is your opportunity, Republicans. You hold yourself a medium. We
are going to hold the line here. We are going
to blow this thing up. Do it. But it's not

(08:01):
that hard, allay, it's compliment. It's not difficult. Insurance is
not a difficult thing to figure out. We can put together,
have to put together catastrophic plans, a myriad of different
things that could be done. But you have to destroy
it the way it is right now, not throw more
money on it, not extend it. I know we're some stories.

(08:26):
This one's gonna lose this, and this one's gonna lose that.
I to come on already, we're hundreds of billions of
dollars going directly to the insurance industry. It hasn't lowered costs.
Average monthly premiums per person have gone up from two

(08:50):
hundred and forty two dollars in twenty thirteen to six
hundred and twenty nineteen. Rick Scott had a that's one
hundred and forty percent in six years, and that number
is bs. As far as I'm concerned, it's much much
worse than that. I mean, I see it, I see it.

(09:13):
I run a small business. I know what my clients pay.
Be you trying a kid here, and it's the same
thing from everybody. Why why don't we even bother with this?
What's the what's the point? It's a point. You get
bills from here, there and everywhere. Gotta keep tall. I've
I met my deductible it's it's designed to suck. It's

(09:35):
designed to enrich people that quite frankly, aren't providing any healthcare.
They're not. Okay again, I'm gonna do uh, mister Rogers,
neighborhood of make believe really quickly. Here, Okay, we're gonna
go visit King Friday. Remember a little Charliy train there,

(09:55):
mister Rogers, Goro a neighborhood of make believe, but doesn't
have to be make believe. Imagine again, I want you
to picture this in your mind. Picture this in your mind.
No health insurance, no health insurance. What would happen? Oh yeah,
a lot of people losing jobs that don't provide healthcare.

(10:22):
People would have to you know, prices would have to
be price baseball what people can afford to pay. I
mean it, there's so much stupidity. I laugh at this
all the time. You know, it was a great I
mean again, I'm revisiting. I'm revisiting Watchdog on Wall Street
radio shows, you know, circa from two thousand and ten

(10:44):
to twenty fourteen, railing about this stuff, and where everybody's
talking about the one. Oh look at that you're gonna
be able to You gotta get it you get a
wellness visit, You get to go visit your doc? What? Okay?
Do you understand what insurance is? Insurance is something that

(11:06):
we all purchase that we hope we never have to use. Okay,
you got life insurance. You don't want to die? Okay,
you got your car insurance? You never want to use
your car insurance? Or crying out like you got into
an accident, something bad happens. You don't want to use
your home insurance. Bad shit happened? Do you buy your

(11:32):
car and just out of curiosity? Do you when you're
shopping for car insurance? Okay? Do you look for wellness
visits for your car? Does your car? Does your car insurance?
Does your car insurance pay for an oil change or
a car wash? What?

Speaker 1 (11:54):
No?

Speaker 2 (11:57):
No? Does your home insurance policy? Does it cover when
you have to change a fricking light bulb? Huh uh?
Stupidity beyond stupid? Okay, I know I'm harsh language. I'm

(12:18):
you know, I'm sorry, not sorry, apology It's hard for
me sometimes. Okay, Yeah, yeah, I got a Don corleone.
Uh you know, smack, he will smack across the face
from time to time. Here to try to wake people up.

(12:39):
This is not working here. You have a big fat,
huge opportunity to blow up Obamacare. Do it, do it? Please,
get rid of it. Oh the wailing and nursing your
teeth and off people. Oh guy, I guess that moves me.

(13:00):
Your people are gonna be out without healthcare at ballooney, Well,
you think everybody's just gonna think you know, that's it. No,
hospitals are gonna close, doctors are not gonna open up. No,
everything will reset to normalcy. Stop enriching people who are

(13:20):
not providing healthcare. Okay, make health care great. And this
is what you need to do, mister president. Okay, wreck it,
blow it up, start over. You fail. We failed the
last time because you had nothing my concern. And again

(13:41):
this I'm giving you. The reality of the terrain is
that both sides get big fat checks from insurance companies.
Both sides they don't want to lose. That it's a
gravy train for politicians bbbying dollars. That health insurance companies

(14:03):
may one of the biggest griffs going anyway. I've said
my piece Watchdog on Wall Street dot Com