This is a prime example of why Americans are fed up with President Obama and his horrendous signature health-insurance law … because, even if people register for government-run health insurance and their co-op fails leaving them uncovered, President Obama still expects them to pay a penalty for not having Obamacare. What a farce!

The Washington Examiner has the scoop:

The White House said Tuesday that President Obama would veto a House bill that would exempt people from penalties if they purchased health insurance through Obamacare co-ops, and then lost their plan because the co-op failed.

The bill, sponsored by Rep. Adrian Smith, R-Neb., would say the law’s individual mandate tax penalty would not apply to those who unexpectedly lost their health insurance through no fault of their own but because Consumer Oriented and Operated Plans, or Co-ops, created under the law, failed or are in the process of closing.

The Office of Management and Budget issued a statement saying Obama would veto the bill, and said the Obama administration has already reached out to people who lose their plans to help them transition to other plans. It also said people can already qualify under the law for exemptions to the individual mandate penalties.

Obamacare is a scam and a joke. It’s failure on multiple fronts is destroying American business, putting Americans out of work, driving up health-insurance costs and destroying the relationship between health-care provider and patient. It’s time to put the madness that is Obamacare to rest. Click here to help Tea Party Patriots urge lawmakers to permanently and fully repeal President Obama’s disastrous health-insurance law!