Bernie Madoff Accounting
Congressman Ryan, in talking about the budgetary gimmicks in the bill, cited a CBO letter that stated that using money from the Medicare program not to save Medicare, but to fund new entitlements, “would not enhance the ability of the government to pay for future Medicare benefits.” This “Madoff-esque” accounting—where the Administration argues the same money is being used both to save Medicare and reduce the deficit—is nothing like “reform.” In fact, if a private sector firm tried to use this type of double-entry accounting under the Democrat plan, it would likely end up in the same place Bernie Madoff is now—in jail…