Warren Buffett: Scrap Obamacare and Start Over
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.
POLL: 51% Favor Government Shutdown Until Congress Cuts Health Care Funding
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.
It’s Time To Freak Out About The Debt Ceiling And A Government Shutdown Again!
There is perhaps less than a month to go before Congress needs to raise the nation’s debt ceiling. And with no clear strategy going forward, the freak out has begun.
Congressional leaders and members of the Obama administration are throwing out heated, partisan-based tough talk in both directions.
Congress has to deal with both budget issues of averting a government shutdown by Sept. 30 and hiking the nation’s borrowing limit by mid-October, and both don’t appear to be close to resolution.
At the heart of the fight are Republican demands to “defund” and delay the Affordable Care Act. According to Politico, about 30 House Republicans have signaled that they won’t vote for a bill that funds the government if it includes funding for Obamacare.
Republicans’ strategy revolves around leadership convincing the rank-and-file members that the debt ceiling is a fight that earns them more leverage than one over government funding.