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Wednesday, October 19, 2011
Obamacare’s Great Unraveling - Rich Lowry - National Review Online
One of the law’s more blatant gimmicks just died after the administration ran smack into the adamantine rules of basic accounting, and one of the law’s central provisions might be overturned by the Supreme Court. The Obama administration’s signature legislative accomplishment is a standing testament to the foolishness of saying and doing anything to pass a bill as complex and sensitive as one remaking the American health-care system.
The expiring budgetary gimmick is the Community Living Assistance Services and Supports, or CLASS, Act. This new entitlement for long-term care was going to collect premiums for five years before paying out benefits. In the highly theoretical bookkeeping of the Congressional Budget Office, this made it a deficit-reduction measure; the program would collect $70 billion over the first ten years of Obamacare, the window for CBO estimates. Thereafter, it would pay out benefits at an unsustainable clip.
READ MORE: http://www.nationalreview.com/articles/280402/obamacare-s-great-unraveling-rich-lowry — Rich Lowry is the editor of National Review. He can be reached via e-mail: firstname.lastname@example.org.