national health care what is the class act. class act was an attempt to raise money to pay for obama health care. greta: national health care bill or separate from. part of the obama health care. class act would allow the federal government for the first time ever to get into long-term health care insurance business. you can buy long-term health care now. the federal government was going to sell it as a new entitlement and the money collected in policeman yums for the first 10 years of the program were going to be used to pay for obama health care to cover the uninsured. the the washington post greta: you mean people outside the class act or finance the class act during the the money collected in premiums from class act insurance sales was not going to be used in the first 10 years to pay people when they wanted their health care. it was going to be used to make obama health care deficit neutral. called a ponzi scheme. kent conrad said this class act was a ponzi schem
money to pay somebody that gave me money the week before and there is really nothing there other than people passing money around. the class act was the government selling insurance in a way it s never sold before. a new entitlement and only the sickest people in the country would sign up for it first 10 years collect $78 billion in premiums. that 78 billion was being used by the obama administration to pay for obama health care as a system. 2029 the cbo says the class act comes unraveled and you would have to bail it out. and that s why last friday somebody in the obama administration said we have got a nightmare on our hands. we can t let this thing ever get started. it will blow a hole in the budget. the problem with all of this is when they sold obama health care to the senate, they said the class act would help americans and it would make the obama health care deficit neutral. no longer is that the case. greta: all right. class act people. not talking about legal class
national health care what is the class act. class act was an attempt to raise money to pay for obama health care. greta: national health care bill or separate from. part of the obama health care. class act would allow the federal government for the first time ever to get into long-term health care insurance business. you can buy long-term health care now. the federal government was going to sell it as a new entitlement and the money collected in policeman yums for the first 10 years of the program were going to be used to pay for obama health care to cover the uninsured. the the washington post greta: you mean people outside the class act or finance the class act during the the money collected in premiums from class act insurance sales was not going to be used in the first 10 years to pay people when they wanted their health care. it was going to be used to make obama health care deficit neutral. called a ponzi scheme. kent conrad said this class act was a ponzi schem
good to see you. have a great day. from studio 7, i m fredricka whitfield in for suzanne malveaux. let s get you up to date for this wednesday, september 7th. in texas, more wildfires break out as the state battles its worst fire season on record. at last count, 22 new fires are burning. those and dozens more have scorched 120,000 acres in the last week. and across the state, four people have died and more than 700 homes have burned. for many people who have evacuated, there is heartbreak when allowed to go back home. my heart is pounding. it s pounding so hard right now because i don t know how i m going to react when i actually see it and stand in front of it. katie and brian s house. and that s my house. that s my house. right here? yes. oh, i m sorry. the oak trees are still there. are you all right? you re shaking. i m okay. i am the luckiest person in the world. my family is safe. now i need to check on my neighbors. and the death toll from a shooting
wait to reveal his plan to solve it? they are putting together the necessary pieces to see what they can use to jumpstart this economy once again. some of that is what you are seeing in an innovative approach which is taking public and private partnerships such as the infrastructure you will be seeing. he s going to call for the reduction of payroll taxes. things that will give this economy of immediate stimulus. they are looking at it as deficit neutral. you will hear him say all the things they will be proposing will be deficit neutral. he understands we need to get the deficit under control for on you long-term fiscal stability. gregg: if it is going to be more spending as sarah palin suggested, are the american people going to say, been there, done that, didn t like it, and won t congress reject it?