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News Link • Crony Capitalism

TracFone, a chief beneficiary of the “Obama phone” program got $451 million in tax dollars in 2011

The Lifeline program which gives phones to the poor free of charge has come under significant fire as of late from both the public and members of Congress. The program, more commonly referred to as the “Obamaphone” program was actually started under President Reagan, began offering cell phones under GW Bush, but under Obama has been expanded in a very big way. The program costs taxpayeres over $2 billion. TracFone, owned by Carlos Slim, one of the wealthiest men in the world and a supporter of the president, get’s nearly a quarter of that money.

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