By Louis Basenese at Wall Street Daily
Anyone who tells you the government does it better than the private sector is either lying or just plain stupid.
The latest proof? The flagship technology piece of the Affordable Care Act – the healthcare exchanges.
According to government records, taxpayers (i.e. – you and me) forked over a whopping $634.3 million (and counting). It was originally supposed to cost only $93.7 million.
Clearly, politicians have never met a budget they can’t bust.
To put those figures into perspective, consider this… Entire internet-based businesses that are now generating billions in actual sales cost way less to get up and running.
Facebook (FB) and Twitter (Proposed Ticker: TWTR) each only needed about $350 million in their first three years of operation. And it only took a few million for them to create websites that actually work. (Maybe the President should have put Mark Zuckerberg in charge of the healthcare exchanges.)
I find it hard to believe that politicians can’t find any money to cut from spending. How about handing over a little control to the private sector? Just a thought.
Editor's Note: This article is excerpted from the original post by Louis Baseneseat at Wall Street Daily Daily (EconMatters author archive here)
The views and opinions expressed herein are the author's own, and do not necessarily reflect those of EconMatters.
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