The Obama administration says it is unable to go forward with a major program in the president's signature health care overhaul law — a new long-term care insurance plan.Gee, maybe they should have read the bill before they passed it.
Officials said Friday the long-term care program has critical design flaws that can't be fixed to make it financially self-sustaining.
But a central design flaw dogged CLASS from the beginning. Unless large numbers of healthy people willingly sign up during their working years, soaring premiums driven by the needs of disabled beneficiaries would destabilize it, eventually requiring a taxpayer bailout.This pretty much says it all (via John E.):
It's unclear whether the program can be salvaged. Congressional Republicans are committed to repealing it.
Update: John E. notes this from last month. Very curious.
They knew it was a lie. Their actuaries told them so. The math was clear. They didn't care. If CLASS goosed the numbers for the broader bill -- thus helping secure the historic power grab they'd been salivating over forever -- these Statists were thrilled to adopt an "ends justifies the means" mentality. And that, my friends, is how the White House and Democrats manipulated the CBO score, lied their asses off to the American public, and passed their unaffordable, unwanted healthcare monstrosity under deliberately false pretenses. This. Crew. Must. Go.