When House Budget Committee Chairman Paul Ryan met with President Obama at the Blair House in February 2010, he warned that the CLASS Act program in Obamacare was “a Ponzi scheme that would make Bernie Madoff proud.” Last October, Health and Human Services Secretary Kathleen Sebelius admitted Ryan was right. She announced there was no “viable path forward” to implement the provision — and why would there have been, considering that its only real purpose was to make Obamacare’s bottom line look better so that it would pass Congress in the first place.
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