Truth behind whether Obama earned $40,000,000 in royalties from Obamacare as Trump makes shocking claim
Earlier this month, President Donald Trump took to his Truth Social account where he shared a post about former President Barack Obama.
The post reshared a previous claim that Obama had 'collected $40 million' in royalties since he set up Obamacare back in 2010.
The post, shared by Trump, read: "#BREAKING: DOGE halts yearly payment of $2.5 million to Barack Obama for 'royalties linked to Obamacare'."
Trump captioned the post: "WOW!"
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Obamacare, also known formally as the Affordable Care Act, was passed into law in 2010 and aimed to overhaul the American healthcare system and improve access to insurance for US citizens.
It was the central issue in the recent government shutdown, the longest in history, which saw Democrats fight to extend healthcare subsidies for 24 million Americans, which were due to expire by the end of the year.
Trump has frequently criticized Obamacare, writing in early November on Truth Social: "I am recommending to Senate Republicans that the Hundreds of Billions of Dollars currently being sent to money sucking Insurance Companies in order to save the bad Healthcare provided by ObamaCare, BE SENT DIRECTLY TO THE PEOPLE SO THAT THEY CAN PURCHASE THEIR OWN, MUCH BETTER, HEALTHCARE, and have money left over."
However, the president has since admitted he is looking to extend Obamacare subsidies, telling reporters 'some kind of an extension may be necessary to get something else done because the unaffordable care act has been a disaster'.
The POTUS shared the bizarre claim Obama was making $2.5 million a year from the legislation on Sunday (November 30).
While the post that Trump shared didn't include a link or source, it's believed to have originated from satirical claims made on a website called the Dunning-Kruger Times which is a spin-off of America's Last Line of Defense network.
The site is known for producing 'parody, satire and tomfoolery' and describes everything on its website as 'fiction'.
"If you believe that it is real, you should have your head examined," it warns.
The claim that Obama had been collecting royalties began earlier this year, but has since been debunked.
America's Last Line of Defense owner Christopher Blair previously told Reuters: “The ‘Obamacare Royalties’ storyline is one ALLOD has used successfully for years.
“The operation thrives on confirmation bias.”
Meanwhile, CNN anchor Jake Tapper rubbished the claims, posting a video explaining: "No, President Obama is not getting paid royalties for Obamacare, as President Trump posted on Truth Social earlier today. It’s not true. There’s no truth to it. It’s insane.
"The claim, if you can call it that, originated on a website called the Dunning-Kruger Times. More on that in a second.
"That’s part of the America’s Last Line of Defense Network, which is by definition describing itself as a network of parody satire and tomfoolery. Everything on this website is fiction - the website says it’s not true."
In response to questions about why Trump had shared the post, a White House spokesperson told Forbes that Obama had 'rapidly became a multi-millionaire who even bought a luxurious Martha’s Vineyard summer estate' following his time in office.
They added: "Meanwhile, President Trump is the only president in modern history to have actually lost money in office because he has consistently put everyday Americans and America First - not special interests."
UNILAD has also reached out to The White House for comment.
Topics: US News, News, Politics, Donald Trump, Barack Obama
Lucy Devine