Obamacare: Obama's Biggest Budget Buster

Tuesday, 15 Feb 2011 11:47 AM

By Dick Armey

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
From the FreedomWorks website.

Virtually hidden in the Obamacare legislation is a new entitlement — long-term care insurance know as CLASS, which will start providing benefits in 10 years. Those of us who work to support our families, also known as the rationally ignorant public, CLASS will start collecting “premiums” in 2012.

Concealing this new entitlement during the legislative process is immoral, but Obama, Pelosi and Reid misused the $70 billion of “premiums” to offset the cost of Obamacare. Accordingly, Obama, Pelosi and Reid, deliberately concealed the cost of Obamacare. Thus, obfuscation becomes outright deceit and mendacity.

Charles Krauthammer explains in National Review Online: "Obamacare does not create just one new entitlement (health insurance for everyone); it actually creates a second — long-term-care insurance. With an aging population, and with long-term care becoming extraordinarily expensive, this promises to be the biggest budget buster in the history of the welfare state.

"And yet, in the CBO calculation, this new entitlement to long-term care reduces the deficit over the next ten years. By $70 billion, no less. How is this possible? By collecting premiums now, and paying out no benefits for the first ten years. Presto: a (temporary) surplus. As former CBO director Douglas Holtz-Eakin and scholars Joseph Antos and James Capretta note, 'Only in Washington could the creation of a reckless entitlement program be used as [an] "offset" to grease the way for another entitlement.'”

This deceit is so blatant that Senate Budget Chairman Kent Conrad, a Democrat, has called CLASS, "a Ponzi scheme of the first order, the kind of thing that Bernie Madoff would have been proud of."

As the CLASS mendacity becomes known, the Obama administration and Health and Human Service Director Kathleen Sebelius have adopted the same mantra concocted by their political spin masters to Obamacare: The law isn’t perfect but it does much good. Now we need to improve it.

Here is Sebelius' latest spin as reported by The Wall Street Journal: "The law, while the structure in the statute wasn't perfect, provided ample flexibility to make sure that Class is successful. . . . We at HHS are committed to using that authority to making sure that both the program meets people's needs while remaining fiscally sound."

In other words, first they concealed the new entitlement, next were devious and untruthful about the cost of Obamacare and CLASS, and now they will bureaucratically and undemocratically rewrite the law.

This moral degradation is diminishing our exceptional nation.

To restore a moral and just system of government, Americans must demand the repeal of Obamacare in total.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Obamacare Burned by 'Tanning Tax'

Friday, 10 Feb 2012 15:59 PM

Obamacare's Credibility is in question now that the so-called Tanning Tax has generated barely one-third of the projecte . . .

Tea Party Budget Is the Only Way to Save America

Monday, 19 Dec 2011 13:02 PM

From the FreedomWorks website.
Government, within its jurisdiction, has a monopoly on power. Government has the pow . . .

Good Education Is Important, But Not as Vital as a Job

Friday, 09 Dec 2011 16:00 PM

From the FreedomWorks website.
President Barack Obama s speech in Osawatomie, Kan., called for higher taxes on the  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved