Author Topic: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE  (Read 8333 times)

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39569
  • Doesnt lie about lifting.
WOLF: Obamacare vital signs starting to fade
Court puts law on the fast track to judgment day
By Dr. Milton R. Wolf
-
The Washington Times
6:11 p.m., Monday, March 7, 2011

________________________ ______________________



Obamacare is living on borrowed time, and even its most ardent supporters are beginning to realize it. That's why they're racing to implement - and entrench - as much of the plan as possible before the laws of economics and the laws of the land and voters catch up. They're like a deadbeat renter starting a remodeling project after being evicted but before the police escort them from the premises in hopes that it gives them squatter's rights. Meanwhile, two unrelated but devastating events have caused the ground to shake beneath the feet of Obamacare supporters.

A major component of Obamacare is "totally unsustainable." Those aren't the words of Rush Limbaugh or Sarah Palin; no, those belong to the Obama administration's own chief cheerleader, Health and Human Services (HHS) Secretary Kathleen Sebelius, in testimony before the Senate Finance Committee. The program in question, the CLASS Act or Community Living Assistance Services and Support Act, is a massive long-term elderly care entitlement program that was quietly tucked into Obamacare and never got anywhere near the attention it deserves.

Sen. Kent Conrad, North Dakota Democrat, called the CLASS Act "a Ponzi scheme of the first order, the kind of thing that Bernie Madoff would have been proud of." And then he voted for it. I suspect Bernie Madoff would be proud of Kent Conrad. The White House's sleight of hand goes like this: CLASS Act taxes begin in Year 1 but the benefits don't begin until Year 6, so when 10 years of revenues and five years of expenses were calculated, the Congressional Budget Office declared not only that the CLASS Act paid for itself but, as a result, Obamacare overall would reduce the deficit. However, when 10 years of revenues and expenses are counted - even accepting the White House's rosy scenario projections - the CLASS Act goes billions into the red and Obamacare itself raises rather than reduces the deficit.

Mrs. Sebelius agrees with the Medicare chief actuary that the program "is at a significant risk for failure" with or without the accounting gimmick but - channeling the spirit of Venezuelan dictator Hugo Chavez - she claims the law gives her "administrative flexibility" to bypass Congress and the American voters and rewrite the law to her liking. Such power.

In separate testimony last week, the HHS secretary admitted to double-counting Obamacare's cooked books. The question posed was whether a $500 billion cut in Medicare should be counted toward preserving Medicare or funding the new law. Her own actuary previously acknowledged they must choose one or the other. Mrs. Sebelius' reply? "Both."

Several hundred miles away in Florida, federal Judge Roger Vinson dealt yet another blow to Mr. Obama's health care crown jewel. It was Judge Vinson, of course, who in January declared Obamacare to be unconstitutional. Many from the victorious 26 states that brought the lawsuit have sought to expedite final resolution of the case in the Supreme Court, but the White House has resisted with hopes of delaying their day of reckoning. Instead, the best and the brightest lawyers in the administration opted to request clarification from Judge Vinson regarding his ruling and its effect on implementation. If there's one thing a squatter knows, it's how to stall.

It would be understandable for Judge Vinson to take exception to this tactic since he had already declared quite clearly that "the award of declaratory relief is adequate and separate injunctive relief is not necessary." In other words, once a law is declared unconstitutional, the only option is to stop implementing it.

This week, the White House was smacked with a painful lesson: Be careful what you wish for. Judge Vinson interpreted the administration's request for clarification as a request to stay his own ruling and he granted it - with a big catch. Judge Vinson, saying "the citizens of this country have an interest in having this case resolved as soon as practically possible," has given the White House exactly one week to request that the case be expedited to the appellate court or the Supreme Court or halt Obamacare implementation.

Regrettably, Judge Vinson stopped short of demanding a complete injunction, which not only would have achieved his goal of expediting the case to the Supreme Court but also would have saved taxpayers billions of dollars in the meantime. Still, the administration's bluff has been called.

In case the White House is still unclear, let me offer them the clarification they seek: Get this case to the Supreme Court now and, unless you do, stop spending billions we don't have on an unconstitutional law.

Obamacare may be the crowning achievement of the big-government crowd erecting their ever-expanding entitlement state, but the laws of economics and the laws of the land are racing to see which will take it down first - that is, if the voters don't beat them to it. Even its most ardent supporters call the plan "a Ponzi scheme" and "totally unsustainable" and its date with Supreme Court destiny is about to be fast-tracked.

Obamacare is a skipping stone careening along the water's surface, but the laws of gravity - like the laws of economics and the laws of the land - will always win.

Dr. Milton R. Wolf, a Washington Times columnist, is a board-certified diagnostic radiologist and President Obama's cousin. He blogs at miltonwolf.com.

© Copyright 2011 The Washington Times, LLC. Click here for reprint permission



http://www.washingtontimes.com/news/2011/mar/7/obamacare-vital-signs-starting-to-fade/print



Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39569
  • Doesnt lie about lifting.
Sen. Kent Conrad, North Dakota Democrat, called the CLASS Act "a Ponzi scheme of the first order, the kind of thing that Bernie Madoff would have been proud of."


________________________ ________________________ ___

Do you fucking idiot leftists get it yet? 

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39569
  • Doesnt lie about lifting.
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #2 on: March 07, 2011, 06:56:56 PM »
Got to love Obama's own relatives attacking his admn. 

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39569
  • Doesnt lie about lifting.
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #3 on: March 08, 2011, 05:48:16 AM »
BUMP

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39569
  • Doesnt lie about lifting.
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #4 on: March 08, 2011, 06:11:56 AM »
Paul Ryan has now been proven 100% correct on this.   

All you piece of trash libs who attacked us back then and called names and launched juvenile broadsides to defend ObamaCare need to STFU and admit you were played for cheap whores by your messiah.   


Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39569
  • Doesnt lie about lifting.
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #5 on: March 08, 2011, 07:29:04 AM »
BUMP

dario73

  • Getbig V
  • *****
  • Posts: 6467
  • Getbig!
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #6 on: March 08, 2011, 07:30:50 AM »
Why doesn't it surprise me that a Democrat would vote for Obamacare eventhough he knew there was something wrong with one of its main components? Unbelievable. You can't make this stuff up.

Well, eventually, Obamacare will cease to exist. It is unconstitutional and it wrecks havoc on the economy. Either the Supreme Court will strike it down or it will be repealed.

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39569
  • Doesnt lie about lifting.
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #7 on: March 08, 2011, 07:33:35 AM »
I just want Straw and Option FAIL to defend this.

   

dario73

  • Getbig V
  • *****
  • Posts: 6467
  • Getbig!
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #8 on: March 08, 2011, 07:49:22 AM »
I just want Straw and Option FAIL to defend this.

   

They can't. But you can count on them to come up with some witty joke about it. They will throw in some Jon Stewart in there and they will go on in their happy delusional way.

blacken700

  • Getbig V
  • *****
  • Posts: 11873
  • Getbig!
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #9 on: March 08, 2011, 08:19:11 AM »
so your saying we have to comment on an opinion piece as fact. :D :D dr wolf obama's second cousin removed, the same guy who believed the death panels. if you want comments post real news ::) :D :D

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39569
  • Doesnt lie about lifting.
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #10 on: March 08, 2011, 08:20:37 AM »
so your saying we have to comment on an opinion piece as fact. :D :D dr wolf obama's second cousin removed, the same guy who believed the death panels. if you want comments post real news ::) :D :D

 ::)  ::)

A Dem Senator called ObamaCare a madoff scam, like we have told you from Day 1, if thatis not news, well, whatever.   

dario73

  • Getbig V
  • *****
  • Posts: 6467
  • Getbig!
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #11 on: March 08, 2011, 08:46:19 AM »
Told you 3333.  These idiotic left wing wackjobs never fail to make fools of themselves.

This is an opinion?
In separate testimony last week, the HHS secretary admitted to double-counting Obamacare's cooked books. The question posed was whether a $500 billion cut in Medicare should be counted toward preserving Medicare or funding the new law. Her own actuary previously acknowledged they must choose one or the other. Mrs. Sebelius' reply? "Both."

That happened. There is even a video of it.

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39569
  • Doesnt lie about lifting.
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #12 on: March 08, 2011, 08:47:50 AM »
Proposed long-term insurance program raises questions
Opponents warn plan could require vast infusions of cash

By Lori Montgomery
Washington Post Staff Writer
Tuesday, October 27, 2009 12:53 PM




As congressional leaders haggle over the shape of a proposed government-run "public option" in health-care reform legislation, a quiet revolt is brewing against a different public insurance program -- a plan to create government insurance for long-term care.

The proposal is known as the CLASS Act, short for Community Living Services and Support. The idea has been around for years, and the late Sen. Edward M. Kennedy (D-Mass.) pushed to have the measure included in the health-care overhaul package that passed the Senate health committee in July. A similar measure was also adopted by voice vote in one of the three House committees handling health care.

The idea is to create long-term care insurance that would be available to anyone, including those who are already disabled. People would be automatically enrolled, unless they chose to opt out, and would pay a premium in exchange for the opportunity to receive cash benefits to cover the cost of home care, adult day programs, assisted living or nursing homes after they had been enrolled for at least five years. Premiums and benefit levels would be set by federal health officials, but advocates predict that the program would provide beneficiaries with a minimal sum, around $75 a day.

The proposal has gained momentum in recent days as Democrats in both the House and Senate cast about for cash to help finance a final health package. Because the program would begin taking in premiums immediately but would not start paying benefits until 2016, congressional budget analysts have forecast that it would generate a nearly $60 billion surplus over the next 10 years, cash that would help the larger measure's balance on paper.

But an array of groups -- including the Congressional Budget Office and the American Academy of Actuaries -- have questioned the design of the program, warning that it could easily require vast infusions of cash to cover benefits after 2019.

Sen. Kent Conrad (D-N.D.) called the CLASS Act "a Ponzi scheme of the first order, the kind of thing that Bernie Madoff would have been proud of," and he vowed to block its inclusion in the Senate bill.

In the House, Rep. Earl Pomeroy (D-N.D.) also questioned the program in a caucus meeting last week. Pomeroy said the nation needs to find a way to relieve the heavy burden that now falls on Medicaid to cover the cost of nursing home care. But he said that will require long thought and hard decisions, "not some provision cooked up by advocacy groups at the last hour."

Advocacy groups, for their part, counter that the program would be actuarially sound far into the future and would save Medicaid money.

"It is not a Ponzi scheme," said Larry Minnix, president of the American Association of Homes and Services for the Aging, which represents nonprofit providers and is one of more than 200 consumer and other groups supporting the legislation. "It is a consumer-funded insurance pool that provides people a cash benefit to help with simple chores of daily living so they can remain independent."


View all comments that have been posted about this article.

http://www.washingtonpost.com/wp-dyn/content/article/2009/10/27/AR2009102701417_pf.html


________________________ __________-


Can't to hear how the far left idiots on this board spin this one.  Will they claim WAPO is a right wing outlet?  


Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39569
  • Doesnt lie about lifting.
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #13 on: October 15, 2011, 06:49:06 AM »
so your saying we have to comment on an opinion piece as fact. :D :D dr wolf obama's second cousin removed, the same guy who believed the death panels. if you want comments post real news ::) :D :D

BUMP for Blackass - please comment now that obama had to end this scam. 

James

  • Guest
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #14 on: October 15, 2011, 06:57:54 AM »
WOLF: Obamacare vital signs starting to fade
Court puts law on the fast track to judgment day
By Dr. Milton R. Wolf
-
The Washington Times
6:11 p.m., Monday, March 7, 2011

________________________ ______________________



Obamacare is living on borrowed time, and even its most ardent supporters are beginning to realize it. That's why they're racing to implement - and entrench - as much of the plan as possible before the laws of economics and the laws of the land and voters catch up. They're like a deadbeat renter starting a remodeling project after being evicted but before the police escort them from the premises in hopes that it gives them squatter's rights. Meanwhile, two unrelated but devastating events have caused the ground to shake beneath the feet of Obamacare supporters.

A major component of Obamacare is "totally unsustainable." Those aren't the words of Rush Limbaugh or Sarah Palin; no, those belong to the Obama administration's own chief cheerleader, Health and Human Services (HHS) Secretary Kathleen Sebelius, in testimony before the Senate Finance Committee. The program in question, the CLASS Act or Community Living Assistance Services and Support Act, is a massive long-term elderly care entitlement program that was quietly tucked into Obamacare and never got anywhere near the attention it deserves.

Sen. Kent Conrad, North Dakota Democrat, called the CLASS Act "a Ponzi scheme of the first order, the kind of thing that Bernie Madoff would have been proud of." And then he voted for it. I suspect Bernie Madoff would be proud of Kent Conrad. The White House's sleight of hand goes like this: CLASS Act taxes begin in Year 1 but the benefits don't begin until Year 6, so when 10 years of revenues and five years of expenses were calculated, the Congressional Budget Office declared not only that the CLASS Act paid for itself but, as a result, Obamacare overall would reduce the deficit. However, when 10 years of revenues and expenses are counted - even accepting the White House's rosy scenario projections - the CLASS Act goes billions into the red and Obamacare itself raises rather than reduces the deficit.

Mrs. Sebelius agrees with the Medicare chief actuary that the program "is at a significant risk for failure" with or without the accounting gimmick but - channeling the spirit of Venezuelan dictator Hugo Chavez - she claims the law gives her "administrative flexibility" to bypass Congress and the American voters and rewrite the law to her liking. Such power.

In separate testimony last week, the HHS secretary admitted to double-counting Obamacare's cooked books. The question posed was whether a $500 billion cut in Medicare should be counted toward preserving Medicare or funding the new law. Her own actuary previously acknowledged they must choose one or the other. Mrs. Sebelius' reply? "Both."

Several hundred miles away in Florida, federal Judge Roger Vinson dealt yet another blow to Mr. Obama's health care crown jewel. It was Judge Vinson, of course, who in January declared Obamacare to be unconstitutional. Many from the victorious 26 states that brought the lawsuit have sought to expedite final resolution of the case in the Supreme Court, but the White House has resisted with hopes of delaying their day of reckoning. Instead, the best and the brightest lawyers in the administration opted to request clarification from Judge Vinson regarding his ruling and its effect on implementation. If there's one thing a squatter knows, it's how to stall.

It would be understandable for Judge Vinson to take exception to this tactic since he had already declared quite clearly that "the award of declaratory relief is adequate and separate injunctive relief is not necessary." In other words, once a law is declared unconstitutional, the only option is to stop implementing it.

This week, the White House was smacked with a painful lesson: Be careful what you wish for. Judge Vinson interpreted the administration's request for clarification as a request to stay his own ruling and he granted it - with a big catch. Judge Vinson, saying "the citizens of this country have an interest in having this case resolved as soon as practically possible," has given the White House exactly one week to request that the case be expedited to the appellate court or the Supreme Court or halt Obamacare implementation.

Regrettably, Judge Vinson stopped short of demanding a complete injunction, which not only would have achieved his goal of expediting the case to the Supreme Court but also would have saved taxpayers billions of dollars in the meantime. Still, the administration's bluff has been called.

In case the White House is still unclear, let me offer them the clarification they seek: Get this case to the Supreme Court now and, unless you do, stop spending billions we don't have on an unconstitutional law.

Obamacare may be the crowning achievement of the big-government crowd erecting their ever-expanding entitlement state, but the laws of economics and the laws of the land are racing to see which will take it down first - that is, if the voters don't beat them to it. Even its most ardent supporters call the plan "a Ponzi scheme" and "totally unsustainable" and its date with Supreme Court destiny is about to be fast-tracked.

Obamacare is a skipping stone careening along the water's surface, but the laws of gravity - like the laws of economics and the laws of the land - will always win.

Dr. Milton R. Wolf, a Washington Times columnist, is a board-certified diagnostic radiologist and President Obama's cousin. He blogs at miltonwolf.com.

© Copyright 2011 The Washington Times, LLC. Click here for reprint permission



http://www.washingtontimes.com/news/2011/mar/7/obamacare-vital-signs-starting-to-fade/print




Obamacare is one of the worst Bills ever signed into Law.

And to think that people still support Obama...

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39569
  • Doesnt lie about lifting.
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #15 on: October 15, 2011, 07:04:26 AM »
Remember the arguments i had w Straw, 240, Lurker, blacken, KC, Mal, et al about the CBO scoring? 


Those morons now look like utter dog shit, as always, since they so desperately wanted to believe the messiah.   

tonymctones

  • Getbig V
  • *****
  • Posts: 26520
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #16 on: October 15, 2011, 07:23:03 AM »
LOL at black ass calling this opinion...maybe he didnt hear about the quote by sebilious saying that it requires the constant enrollment of more healthy young ppl to sustain the old...

SOUND FAMILIAR YOU MORON!!!!

you know how a ponzi scheme works?

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39569
  • Doesnt lie about lifting.
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #17 on: October 15, 2011, 07:26:39 AM »
LOL at black ass calling this opinion...maybe he didnt hear about the quote by sebilious saying that it requires the constant enrollment of more healthy young ppl to sustain the old...

SOUND FAMILIAR YOU MORON!!!!

you know how a ponzi scheme works?

Remember that Tanning tax that was supposed to fund a lot of the new spending? 

Guess what?  They collected at least 50% less than they anticipated.   


ObamaCare is not only the worst law to ever have been passed, but its a perfect portrait of the Obama Admn on all levels and those who bought into his lies and still support him.   




tonymctones

  • Getbig V
  • *****
  • Posts: 26520
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #18 on: October 15, 2011, 07:30:56 AM »
Remember that Tanning tax that was supposed to fund a lot of the new spending? 

Guess what?  They collected at least 50% less than they anticipated.   


ObamaCare is not only the worst law to ever have been passed, but its a perfect portrait of the Obama Admn on all levels and those who bought into his lies and still support him.   
LOL who are the ppl budgeting these ideas and how are these morons so far off?

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39569
  • Doesnt lie about lifting.
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #19 on: October 15, 2011, 07:34:14 AM »
LOL who are the ppl budgeting these ideas and how are these morons so far off?

Again - like Ryan said - its all scams,. schemes, gimmicks, and lies 

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39569
  • Doesnt lie about lifting.
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #20 on: October 16, 2011, 02:14:28 PM »
Bump for straw.   

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39569
  • Doesnt lie about lifting.

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39569
  • Doesnt lie about lifting.
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #22 on: October 29, 2011, 08:26:46 AM »
BUMP FOR STRAW AND 180

Soul Crusher

  • Competitors
  • Getbig V
  • *****
  • Posts: 39569
  • Doesnt lie about lifting.
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #23 on: October 29, 2011, 09:06:14 AM »
BUMP FOR STRAW AND 180 

Straw Man

  • Getbig V
  • *****
  • Posts: 41015
  • one dwells in nirvana
Re: Dem. Sen. Conrad: "ObamaCare is a MASSIVE PONZI SCHEME" - QUOTE
« Reply #24 on: October 29, 2011, 09:09:43 AM »
wtf - we're already discussing this in another thread

you're like a child dying for some attention by a parent

did your mommy and daddy ignore you as a child (and a teenager and now as an adult)?