Thread: Warren Buffett: Scrap Obamacare and Start Over

Weekly Standard
Sep 17, 2013 • By JEFFREY H. ANDERSON

You know things are bad for President Obama when even Warren Buffett has soured on Obamacare and says that "we need something else." Money Morning writes:


"Healthcare costs in the United States are like a tapeworm eating at our economic body.

"Those words come from famed investor Warren Buffett, who said he would scrap Obamacare and start all over.

"'We have a health system that, in terms of costs, is really out of control,' he added. 'And if you take this line and you project what has been happening into the future, we will get less and less competitive. So we need something else.'

"Buffett insists that without changes to Obamacare average citizens will suffer.

"'What we have now is untenable over time,' said Buffett, an early supporter of President Obama. 'That kind of a cost compared to the rest of the world is really like a tapeworm eating, you know, at our economic body.'
"Buffett does not believe that providing insurance for everyone is the first step to take in correcting our nation's healthcare system.

"'Attack the costs first, and then worry about expanding coverage,' he said. 'I would much rather see another plan that really attacks costs. And I think that's what the American public wants to see. I mean, the American public is not behind this bill.'"

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Buffett: Scrap Obamacare and Start All Over

By Money Morning Staff Reports

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Healthcare costs in the United States are like a tapeworm eating at our economic body.

Those words come from famed investor Warren Buffett, who said he would scrap Obamacare and start all over.
"We have a health system that, in terms of costs, is really out of control," he added. "And if you take this line and you project what has been happening into the future, we will get less and less competitive. So we need something else."

Buffett insists that without changes to Obamacare average citizens will suffer.

"What we have now is untenable over time," said Buffett, an early supporter of President Obama. "That kind of a cost compared to the rest of the world is really like a tapeworm eating, you know, at our economic body."
Buffett does not believe that providing insurance for everyone is the first step to take in correcting our nation's healthcare system.

"Attack the costs first, and then worry about expanding coverage," he said. "I would much rather see another plan that really attacks costs. And I think that's what the American public wants to see. I mean, the American public is not behind this bill."

Editor's Note: Two paragraphs of Obamacare will force the government to become the biggest buyer of vaccines and one company will receive the majority of these new contracts. This firm is working on vaccines for the flu, AIDS, and practically every infectious disease known to man.

Buffett's certainly not alone in his discontent for Obamacare. Ask millions of Americans what they think about the new law, and chances are they're ready to pop a jugular.

The government program, slated to being in earnest October 1 when the exchanges go live, is one of the most hated bills in history.

Critics heavily oppose the mandate requiring them to purchase health insurance. They're also furious at all the new taxes, fees, and higher premiums they'll be stuck paying, thanks to Obamacare.

Yet, while millions of Americans loathe every facet of The Affordable Care Act, as it's officially titled, another group of Americans see it as a once-in-a lifetime opportunity to get rich: Investors.

According to most Wall Street experts, Obamacare will create unheard of fortunes for investors who tap into the right companies.

That's because the U.S. will spend billions, even trillions of dollars implementing, regulating, and enforcing Obamacare.

Select companies and their investors are set to make a fortune in the next several months - and years - as the full Obamacare plan gets underway.

Even main street investors will have a chance to reap big paydays - provided they know which sectors stand to benefit most.



The chances of Obamacare getting repealed are close to zero.

With the implementation of Obamacare quickly approaching, millions of Americans are asking what they can do to prepare for all the new costs and rules.

One expert, Betsy McCaughey, former Lieutenant Governor of New York and constitutional scholar with a Ph.D. from Columbia University, recently wrote a best-selling book showing Americans how they can survive Obamacare.

McCaughey is one of the only people in the country -- including members of Congress - who has actually read the entire 2,572 page law.

Her book, titled Beating Obamacare: Your Handbook for Surviving the New Health Care Law breaks down the complicated bill into 168 pages of actionable advice.

The book, written in an easy going, easy to read style, shows some startling facts about Obamacare not seen in the mainstream press.

For example, she points to a little known passage in the bill that shows how you could get slapped with a $2,000 fine for not having health insurance - even if you do actually have it.

She also goes into detail explaining how one third of all U.S. employers could stop offering health insurance to their workers.

In one chapter, she shows how ordinary Americans will get stuck paying for substance abuse coverage even if they never touched a drink or drug in their life.

And according to McCaughey's research, senior citizens will get hit the hardest. "If you're a senior or a baby boomer, expect less care than in the past," she says. "Hip and knee replacements and cataract surgery will be especially hard to get from Medicare in the months ahead."

She warns seniors to get some of those types of procedures done now before Obamacare goes into full effect.
In addition, many will find it difficult to keep their medical records private, according to McCaughey.
"The law will compel Americans to share with millions of strangers who are not physicians confidential private and personal medical history information they do not wish to share."

Editor's Note: Real facts and figures about the hidden Obamacare taxes and fees and how they will affect ordinary Americans and seniors are hard to find. As a courtesy, Money Morning is giving readers a copy of Betsy McCaughey's new book Beating Obamacare: Your Handbook for Surviving the New Health Care Law. But only a limited number are available.

http://moneymorning.com/ob-article/o...re-buffett.php

51% Favor Government Shutdown Until Congress Cuts Health Care Funding

Tuesday, September 17, 2013

President Obama yesterday criticized congressional Republicans for insisting on spending cuts in any budget deal that continues government operations past October 1, saying they risk "economic chaos." Most voters agree a federal government shutdown would be bad for the economy, but they're willing to risk one until Democrats and Republicans in Congress agree on ways to cut the budget, including cuts in funding for the new national health care law.

Just 20% of Likely U.S. Voters believe a partial shutdown of the federal government would be good for economy, according to a new Rasmussen Reports national telephone survey. Fifty-six percent (56%) say such a shutdown would be bad for the economy, even though payments for things like Social Security, Medicare and unemployment would continue. Sixteen percent (16%) think it would have no impact. (To see survey question wording, click here.)

But 58% favor a federal budget that cuts spending, while only 16% prefer one that increases spending. Twenty-one percent (21%) support a budget that keeps spending levels about the same.

This helps explain why 53% would rather have a partial government shutdown until Democrats and Republicans can agree on what spending to cut. Thirty-seven percent (37%) would prefer instead that Congress avoid a shutdown by authorizing spending at existing levels as the president has proposed.

Some conservative Republicans in both the House and Senate are refusing to approve a budget unless it slows or stops funding for the health care law, but the president and most congressional Democrats are adamantly opposed to any such cuts. However, 51% of voters favor having a partial government shutdown until Democrats and Republicans agree on what spending for the health care law to cut. Forty percent (40%) would rather avoid a government shutdown by authorizing spending for the health care law at existing levels.

Late last month, 42% of Republicans said threatening to vote against a government funding bill unless it cuts off funds for the health care law will help the GOP. Twenty-eight percent (28%) disagreed, while 14% said it would have no impact. Fifty-two percent (52%) of Democrats and 48% of unaffiliateds thought it would hurt Republicans.

Most voters continue to dislike the health care law, and 54% expect it to increase, not reduce, health care costs. From the beginning of the debate over the law four years ago, voters have consistently said that cost is their number one health care concern.

Under the health care law, uninsured Americas are required to have health insurance by January 1, and failure to do so could result in sizable penalties. Now that the president has delayed implementation of the employer mandate portion of his new national health care law, 56% of voters think he also should delay the requirement that every American buy or obtain health insurance.

(Want a free daily e-mail update? If it's in the news, it's in our polls). Rasmussen Reports updates are also available on Twitter or Facebook.

The survey of 1,000 Likely Voters was conducted on September 14-15, 2013 by Rasmussen Reports. The margin of sampling error is +/- 3 percentage points with a 95% level of confidence. Field work for all Rasmussen Reports surveys is conducted by Pulse Opinion Research, LLC. See methodology.

The president sounded similar dire economic warnings before the so-called sequester automatic budget cuts kicked in March 1, but even after some highly publicized flight delays that were blamed on the sequester, just 24% of voters felt government spending was cut too much. Forty-four percent (44%) said spending wasn't cut enough. Now, interestingly, the president is proposing continuing federal spending at least in the short term at the lower levels set by the sequester.

Fifty-six percent (56%) of Americans think that when government agencies are forced to cut their budgets, they generally cut popular programs first to make the cuts seem more significant.

Democrats are far more concerned about the prospects of a government shutdown than Republicans and unaffiliated voters are. Seventy-nine percent (79%) of voters in the president's party think a partial shutdown would be bad for the economy, but just 40% of GOP voters and 48% of those not affiliated with either of the major parties agree. But then 78% of Republicans and 64% of unaffiliateds favor a federal budget that cuts spending, a view shared by just 34% of Democrats.

Sixty-three percent (63%) of Democrats agree with the president and would prefer to avoid a shutdown by authorizing spending at existing levels. Seventy-four percent (74%) of Republicans and 62% of unaffiliated voters would rather have a shutdown until the two sides can agree on what spending to cut.

Similarly, 78% of GOP voters and 57% of unaffiliateds like the idea of a partial shutdown until Democrats and Republicans can agree on what spending for the health care law can be cut. Sixty-nine percent (69%) of Democrats favor instead avoiding a shutdown by authorizing spending for the law at existing levels.

Looking to the future, 80% of GOP voters believe it is more important for their party to stand for what it believes in rather than to work with the president. Right now, 65% of Likely Republican Voters think Republicans in Congress have lost touch with GOP voters from throughout the nation over the last several years, while 59% of Likely Democratic Voters think Democrats in Congress have done a good job of representing their party's values.

The president and congressional Democrats have tied many of their criticisms of the Republican budget positions to the Tea Party. Just 39% of all voters now have a favorable opinion of the Tea Party, although 78% of Republicans believe it’s at least somewhat important for their leaders in Congress to work with the Tea Party, including 45% who think it’s Very Important.

While voters are more critical of the Tea Party itself, most continue to agree with its small government principles. Sixty-four percent (64%) prefer a smaller government with fewer services and lower taxes over a larger one with more services and higher taxes. Sixty-two percent (62%) think the government should cut spending rather than increase it in reaction to the nation’s economic problems.

Seventy-seven percent (77%) of all likely voters say they have been following recent news stories about the federal budget debate in Congress, with 42% who say they are following Very Closely.

http://www.rasmussenreports.com/publ...h_care_funding

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Warren Buffett Opposed Obamacare

Under Obamacare, illegal aliens will continue to drive-up healthcare costs

Originally Posted by HAPPY2BME

"'Attack the costs first, and then worry about expanding coverage,' he said. 'I would much rather see another plan that really attacks costs. And I think that's what the American public wants to see. I mean, the American public is not behind this bill.'"

When it comes to finance, Buffett is very difficult to argue with. (One cost-cutting move is to eliminate prescriptions for unnecessary or inappropriate anti-biotics. Watch to physicians to oppose this, because it would cut their incomes.)

I really hope that we *can* start over, but I fear that the Demos will never acknowledge that 'Bama didn't know what he was doing.
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