October 27, 2011

CRUMBLING: Jim Matheson is first Dem to back CLASS repeal.

Related: Obamacare collapsing en route to Supreme Court.

A funny thing happened along the way to the Democrats’ health care utopia. The stubbornly inescapable and elegantly simple Stein’s Law, named for the late economist Herbert Stein, kicked in with a vengeance: “Things that can’t go on forever, don’t.” Collecting 10 years of revenues for every five years of expenses can’t go on forever, and now even HHS admits there is “no viable path forward” for the CLASS Act. Despite HHS’ fatal prognosis for the program, it wants to keep the program on the books anyway so at some point it can attempt a resurrection. Classless.

Stein’s Law will be the epitaph for this particular decade, I think.

Related: Why Washington will collapse.

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