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Obama Administration Pulls the Plug on Their Failed Health-Care ‘Ponzi Scheme’ [Paul Ryan statement]
Committee on the Budget: U.S. House of Representatives ^ | October 14, 2011 | Paul Ryan

Posted on 10/14/2011 2:36:48 PM PDT by Hunton Peck

The President’s Health-Care Law’s House of Cards Begins to Crumble

WASHINGTON – Today, House Budget Committee Chairman Paul Ryan of Wisconsin issued the following statement regarding the Obama Administration’s decision to discontinue a key component of its health-care law:

“To hide the true cost of their health-care overhaul, the leaders of the Democratic party loaded it with gimmicks and double-counting. One of the most egregious of these gimmicks involved the CLASS Act, a new long-term care program that was scored as an offset against the ten-year, trillion-dollar cost of the Democrats new law. Independent health care experts warned that the CLASS Act program would turn into a classic ‘insurance death spiral.’ Not only would the short-term savings fail to materialize, but the long-term costs would prove catastrophically high. Even Democratic Senator Kent Conrad called the program ‘A Ponzi scheme Bernie Madoff would have been proud of.’

“Today, the Obama Administration finally surrendered to reality: Health and Human Services Secretary Kathleen Sebelius has informed Congressional leaders that she ‘does not see a viable path forward for CLASS implementation at this time.' The smoke and mirrors that the Democrats employed to sell their health care overhaul are finally falling away, one broken promise at a time. When all of these gimmicks are stripped out, the new law would add hundreds of billions of dollars in red ink over the next decade, as health-care costs send the debt spiraling out of control. Now it is time for Congress to do the responsible thing: Repeal the disastrous new law and replace it with true, patient-centered reforms.”

For more information: http://budget.house.gov/healthcare/


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: classact; healthcare; obamacare; paulryan; sebelius
Budget Chairman Ryan's take on the latest development
1 posted on 10/14/2011 2:36:56 PM PDT by Hunton Peck
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To: Hunton Peck
It's Democrat Senator Kent Conrad!

Good grief, our own people play ball with the enemy.

2 posted on 10/14/2011 2:39:40 PM PDT by Steely Tom (Obama goes on long after the thrill of Obama is gone)
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To: ExTexasRedhead

ping-a-ling


3 posted on 10/14/2011 2:41:10 PM PDT by Doogle ((USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated))
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To: Steely Tom

Sure do!!!!


4 posted on 10/14/2011 2:41:39 PM PDT by marty60
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To: Steely Tom

Sure do!!!!


5 posted on 10/14/2011 2:41:39 PM PDT by marty60
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To: Hunton Peck

bttt


6 posted on 10/14/2011 2:43:29 PM PDT by Matchett-PI (Obamageddon, Barackalypse Now! Bam is "Debt Man Walking" in 2012 - Rush Limbaugh)
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To: Hunton Peck
Repeal the disastrous new law...

HOORAY Paul Ryan!

"Everything about socialism is sham and affectation." - 23.11 Ch23 Evil; Economic Harmonies; Frederic Bastiat 1801-1850

7 posted on 10/14/2011 2:51:48 PM PDT by PGalt
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To: Hunton Peck
The smoke and mirrors that the Democrats employed to sell their health care overhaul are finally falling away, one broken promise at a time.

Are American voters brain dead? These crminals and their corruption are exposed yet they continue with impunity. How long woulde anyone last in the private sector if found to be "cooking the books"? They would be out and facing prosecution.

Our officials get reelected so they can figure more clandestine ways to rob the public. When will this maddness stop???

Will we really need a revolution because the election process just isn't working!!!

8 posted on 10/14/2011 2:52:41 PM PDT by varon (Allegiance to the Constitution, always. Allegiance to a party, never!)
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To: Hunton Peck

HOORAY Paul Ryan!

“Above all, if you wish to be strong, begin by rooting out every particle of socialism that may have crept into your legislation. This will be no light task.” - The Law; Frederic Bastiat 1801-1850


9 posted on 10/14/2011 2:54:44 PM PDT by PGalt
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To: varon

They all need to be put behind bars and WE THE PEOPLE should demand it from our new administration!!!!!!!


10 posted on 10/14/2011 3:01:12 PM PDT by ronnie raygun (V)
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To: varon
“Will we really need a revolution because the election process just isn't working!!!”

YES Most definitely, There seems to be no other way of saving our Constitutionally Guided Republic from these No good, Lying, Self serving SOB’s

11 posted on 10/14/2011 3:16:01 PM PDT by mongo141
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To: Hunton Peck

‘Had to pass it to know what was in it.’

Now, we are finding out why they had to pass it without knowing what was in it.


12 posted on 10/14/2011 3:22:07 PM PDT by TomGuy
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To: ronnie raygun
They all need to be put behind bars and WE THE PEOPLE should demand it from our new administration!!!!!!!

Can these representatives and senators be prosecuted in court for their complicity in all these obviously illegal actions after they leave office? Inquiring minds want to know.

13 posted on 10/14/2011 3:23:40 PM PDT by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
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To: Hunton Peck
I'm going to keep saying this until I'm blue in the face. The Republicans need to be hammering the Rats about the $1/2T in cuts to Medicare to fund Obamacare. They should be doing commercials about Grannies eating dog food because the Rats cut their Medicare and they can't afford food.
14 posted on 10/14/2011 3:24:46 PM PDT by HenpeckedCon (What pi$$es me off the most is that POS commie will get a State Funeral!)
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To: ronnie raygun
...our new administration...

In '08 some conservatives urged us not to vote either for McCain OR Obama. Though I understood their reasoning, my vote for McCain was a vote against Obama. .

I hope I don't hear any of that kind of advice in 2012. We've GOT to throw our support behind WHOEVER wins the Republican nomination.

The thoughts of enduring B.O. and the likes of his administration another four years?

Hello, socialism. Goodbye Freedom.

15 posted on 10/14/2011 3:40:35 PM PDT by IIntense
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To: Hunton Peck

I’m glad Ryan’s put something out. This turn of events should be hammered by the GOP.


16 posted on 10/14/2011 4:13:40 PM PDT by newzjunkey
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To: Hunton Peck

I’m glad Ryan’s put something out. This turn of events should be hammered by the GOP.


17 posted on 10/14/2011 4:13:40 PM PDT by newzjunkey
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To: Hunton Peck
So a bureaucrat can just cherry pick what parts of a law they want to enforce, even if said law was passed by congress and signed by the president
18 posted on 10/14/2011 4:53:05 PM PDT by Sea Parrot (Democrats creation of the entitlement class will prove out to be their very own Frankenstein monster)
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To: Hunton Peck

In my opinion, ObamaCare/DeathCare is the Holocaust of our time.


19 posted on 10/14/2011 4:56:24 PM PDT by ExTexasRedhead
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To: Hunton Peck
Now it is time for Congress to do the responsible thing: Repeal the disastrous new law and replace it with true, patient-centered reforms.”

Wrong. Repeal the thing and all the other parts of it in the Finance Reform Law and the Stimulus Package etc and don't replace it. Keep repealing. Repeal Medicare(I am on Medicare). Repeal Medicaid.Eliminate the tax advantage of employer provided insurance. Eliminate government paid medical insurance for government employees. Repeal government intervention in American Medicine whatever it is.

Do all that and medicine will become affordable out of pocket for most Americans and charities and foundations will take care of the rest. Health Insurance will become insurance again not prepaid lifetime medical care that pays far more in salaries and rakeoff for bureaucrats- public and private- and politicians than it pays for medical care.

20 posted on 10/14/2011 5:17:22 PM PDT by arthurus (Read Hazlitt's "Economics In One Lesson.")
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To: ExTexasRedhead

I think abortion is the ongoing holocaust of our time (in addition to several mini-holocausts being conducted by Islam around the world), but 0bamacare, if implemented, would certainly add the elderly and disabled to the holocaust of the inconvenient innocents.


21 posted on 10/14/2011 6:20:31 PM PDT by Hunton Peck (See my FR homepage for a list of businesses that support WI Gov. Scott Walker)
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To: Hunton Peck
replace it with true, patient-centered reforms.”
NO!

We need to get rid of these big government loving establisment dimwits and that includes Paul Ryan...The sooner the better.

22 posted on 10/14/2011 6:51:48 PM PDT by lewislynn ( What does the global warming movement and the Fairtax movement have in commom? Misinformation)
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