Comments on: Obamacare: not a CLASS act

By: Senator Burr: Nelson played the “Price is Right” and won | Radio Vice Online

Sat, 19 Dec 2009 18:21:10 +0000

[...] bill does not limit but instead expands abortion, as I detailed here. This bill includes the Class Act ponzi scheme provision. This bill increases Medicaid eligibility and forces states to come up with more cash (read that [...]

By: Nebraska Senator Ben Nelson sells out for cash | Radio Vice Online

Nebraska Senator Ben Nelson sells out for cash | Radio Vice Online — Sat, 19 Dec 2009 18:14:31 +0000

[...] for the billions we will be sending Nebraska. The bill cuts Medicare, eliminates medicare avantage, sets up a ponzi scheme in the class act provision, allows the Federal government to set protocol on medical treatment as well as payments. He knows [...]

By: zedgar

zedgar — Tue, 08 Dec 2009 22:10:06 +0000

The CLASS Act is included for one reason: it develops a pay-as-you-go surplus during the 10-year period even though the American Academy of Actuaries says it is not actuarially sound. Revenues start long before benefits need to be paid. This gimmick produces pay-as-you-go surpluses in the first ten years even though premiums are 23% deficient. This accounts for $72 billion (i.e., 55%) of the $130 billion 10-year Senate Bill surplus! It’s all smoke and mirrors.

By: Dimsdale

Dimsdale — Tue, 08 Dec 2009 13:11:10 +0000

“Either the “voluntary” program becomes “mandatory”, or, the program will need federal subsidies (your tax dollars) to remain viable.”

Classic Formula Democrat. Come in with a “voluntary” program, establish it as an entitlement (or a “right”), and thereafter be “forced” to subidize it with tax dollars because they know nothing of basic economics, while “coincidentally” buying the votes of those receiving the entitlements.

This is one case where past performance is an indicator of future results.