Since 2009, I have been working tirelessly to show the American people that Obamacare will have serious implications on the quality of healthcare, as well as our economy. In fact, I joined several other Members of Congress at a press conference a few weeks ago to accept over 1.6 million petitions from American citizens urging the repeal of Obamacare.
Well, last Friday came just the latest acknowledgement that Obamacare is bad for our country when Health and Human Services Secretary Kathleen Sebelius announced that the Community Living Assistance Services and Supports (CLASS) Act Program, touted as a critical cost-saving measure of Obamacare, was deemed insolvent.
The goal of the CLASS Act was to provide long-term care insurance for the elderly and disabled. By collecting ten years of premiums while only paying out five years in benefits, the program used sneaky accounting tactics to suggest that the CLASS Act would be responsible for offsetting $86 billion of Obamacare's healthcare savings during the program's first ten years.
Fortunately, the Congressional Budget Office (CBO) no longer supports this tricky math and the administration now acknowledges it would need massive taxpayer bailouts to stay afloat. Back in September, the bicameral Repeal CLASS Working Group published a report which revealed that HHS employees were calling the program "a recipe for disaster" in internal e-mails. Now that HHS has recognized that CLASS is not fiscally sound, the cost of Obamacare will essentially increase by at least $86 billion dollars--a price our country simply cannot afford.
Repealing the CLASS Act and the healthcare law is a critical step that will not only save taxpayer dollars and countless jobs--but it could also save lives. Dr. James Dolan, President of the Florida Medical Association, recently expressed concern over what lies ahead for Americans once Obamacare fully takes effect. Dolan claimed, "in the face of extreme payment cuts and a failing system, my colleagues in our state and across the nation may not be able to continue providing care for millions of Medicare patients." Obviously President Obama did not conduct proper research before he told seniors they could keep their insurance and their doctors.
To be frank, another bankrupt entitlement program will only worsen this fiscal crisis. Repealing the CLASS Act and Obamacare is the only way we can ensure that the Obama Administration does not try to pull one over on the American people and attempt to get a broken program up and running.