Andy Maholick: Federal Ponzi schemes

June 3, 2014 

Regarding the May 30 letter “ The ACA way”: I too have been the beneficiary of the Social Security and Medicare Ponzi schemes. Being in our 70s, my wife and I have received over three to fives times more than what we have paid into them. The problem with most Ponzi schemes is that there comes a time when they run out of money.

Medicare and Social Security represent the bulk of future U.S. debt obligations, coming in at $27.6 trillion and $26.5 trillion respectively. Unfunded prescription drug liability is $22.5 trillion. Let’s see how people like the system when it all comes crashing down!

President Obama’s statement that the the ACA will provide everybody with “basic health care” is not true. Thirty million people will not have coverage. The letter-writer stated that ACA bills are not passed onto him. He must not pay any taxes. Who does he think pays the subsidies for these policies?

Like most national health plans where people pay little or nothing for their coverage, the ACA will eventually result in long wait times like the VA. While we might have health insurance, it begs the question as to whether we will have good health care.

Andy Maholick

Raleigh

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