Let's Talk About Obama's Most Recent Scandal

Wow, Tuesday it's a solar energy company that Obama graced with a $500 billion guaranteed loan, company subsequently went bankrupt. Yesterday was his new totalitarian web site, AttackWatch.com where citizens could tattle on people saying bad things about Obama. Now today there is: Obama administration ignored warnings about a component of ObamaCare that would not be able to fund itself, yet by using accounting smoke and mirrors, Obama claimed it would actually help reduce the deficit.

WASHINGTON — Even as leading Democrats offered assurances to the contrary, government experts repeatedly warned that a new long-term care insurance plan could go belly up, saddling taxpayers with another underfunded benefit program, according to emails disclosed by congressional investigators.

Part of President Barack Obama's health care law, the program is in limbo as a congressional debt panel searches for budget savings and behind the scenes, administration officials scramble to find a viable financing formula.

A longstanding priority of the late Sen. Edward M. Kennedy, D-Mass., the Community Living Assistance Services and Supports program, or CLASS, was spliced into the health care law despite nagging budget worries. Administration emails and documents reveal that alarms were sounded earlier and more widely than previously thought. Congressional Republicans seeking repeal of the program provided the materials to The Associated Press.

"Seems like a recipe for disaster to me," William Marton, a senior aging policy official in the administration, wrote in an October 2009 email. Marton explained his concern that large numbers of healthy people would not willingly sign up for CLASS, creating a predicament in which soaring premiums for a smaller group of frail beneficiaries would destabilize the program.

http://www.ajc.com/health/ap-exclusive-long-term-1181055.html?printArticle=y

http://townhall.com/tipsheet/guyben...mails_reveal_major_obamacare_accounting_fraud

 

Sorry for the typo, it was actually $500 million, not billion. Still, $500 million here, $500 million there, pretty soon you're talking about some real money.