CLASS Act: Madoff Would be Proud

The Community Living Assistance Services and Support (CLASS) Act, buried deep within ObamaCare, is a program of front-loaded funding and back-loaded spending that even Democratic Senator Kent Conrad, an ObamaCare supporter, calls “a Ponzi scheme of the first order.”  The CLASS Act is unsustainable, but it succeeded in artificially lowering ObamaCare’s cost-estimates by $70 billion.  It practically invites adverse selection, and, if it were to remain on the books, it would eventually result in higher deficits, higher premiums for those enrolled, compulsory enrollment, or a combination of those three.