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Obama Decries “Phony Financial Profits”—But Supports Obamacare Budget Gimmicks

Click here to watch Sen. Barrasso’s remarks. In his State of the Union address last week, President Obama said that under his leadership: “We will not go back on an economy weakened by outsourcing, bad debt, and phony financial profits.” It’s clear now that he has two different standards for accounting—one for the public sector and one for the private sector. In fact, the President’s health care law is based on phony financial profits through the CLASS Act. Today, U.S. Senator John Barrasso (R-Wyo.) called on the President and Majority Leader Reid to repeal the CLASS Act. Excerpts of Senator Barrasso’s remarks on the floor of the U.S. Senate: “President Obama's health care law established the CLASS Act, a brand-new federal long-term entitlement program. “It turns out that the math for the program doesn't add up, and it will not work. The worst part about it is that the administration has known from the very begi... Read More