Reply Tue 18 Oct, 2011 12:25 pm
And I havent heard a word about it.
Have I missed the statement from the WH?

It seems that the CLASS Act, a central part of the new Obamacare, has been scrapped.
Why?...Because it wasnt possible to implement it.
It didnt work and would cost to much.
Its funny that it took the HHS 19 months to admit what many people knew from the beginning.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/10/17/MN0G1LIM5S.DTL

http://www.sfexaminer.com/opinion/editorials/2011/10/sebelius-admits-class-act-flunking-out

Quote:
What is clear is that CLASS was a fiscal sleight of hand. By collecting premiums from voluntary enrollees for five years before paying out any benefits, CLASS helped foster the appearance of significant budget savings ($70 billion over a decade from enactment) resulting from Obamacare. But there simply was no way to accumulate enough funding to cover promised benefits. This is why Sebelius said she saw “no viable path forward” for the program.

During the debate over Obamacare in 2009 and 2010, Senate Democrats claimed the CLASS Act’s finances were just fine. Senate Majority Leader Harry Reid claimed CLASS was “fully paid for,” while Sens. Tom Harkin, D-Iowa, and Bob Casey, D-Pa., were among the many others who praised the CLASS Act and claimed that the program was actuarially sound. This claim wasn’t true at the time, and its falsity has now been definitively exposed by Sebelius’ concession.


http://www.weeklystandard.com/blogs/democrats-defend-scuttled-class-act_598232.html

So, since they have admitted that it wont work, how are they going to pretend to fund parts of it now?



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