On the recordOctober 25, 2011
If any insurance company began collecting premiums, then tried to spend $86 billion before paying out a single penny in benefits, they would rightly be prosecuted as a Ponzi scheme.
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congress.govTim Murphy: “If any insurance company began collecting premiums, then tried to spend $86 billion before paying out a single penny in…”
Editor's note · Context
Murphy compares the CLASS Act's funding strategy to a Ponzi scheme.
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