Wednesday, July 28, 2010
The Next Trillion-Dollar Bailout
From the Heritage Foundation, Ready for the Next Trillion-Dollar Bailout?
CLASS is a new long-term-care insurance program that was inserted into Obamacare so that Congress could raid its $70 billion surplus through 2020 to cover Obamacare’s initial deficits. Like the raided Social Security trust fund, future taxpayers will have to repay that $70 billion with interest when the program falls into deficit later.
“a Ponzi scheme of the first order, the kind of thing that Bernie Madoff would have been proud of.”
Thus, even Sen. Kent Conrad (D., N.D.) admits that Congress has enacted “a Ponzi scheme of the first order, the kind of thing that Bernie Madoff would have been proud of.”
Just another reason Obamacare needs to be repealed, CLASS is another entitlement that America can’t afford.
Posted by Steve on 07/28 at 03:06 PM
Blogging • American Politics • Looters • Parasites • Political Elite • Obama Nation • Shysters • Suicidal Democrats • The Economy • Permalink
Blogging • American Politics • Looters • Parasites • Political Elite • Obama Nation • Shysters • Suicidal Democrats • The Economy • Permalink
