Also in this playlist...
This transcript is automatically generated
I ferret out yesterday not ever -- thinks this bill is a good idea Michael -- from the get into believing it is being implemented to fasten nobody.
Can cover the costs so.
Michael I severe heard rob what would you say don't.
Well the provisions that he's talking about I think we need to be very clear about what those are.
Those are really price controls their government price controls and and thousands of years of human history government price controls have never worked.
That's why you've got economists like president Obama's advisor -- economic advisor Larry Summers saying that price and exchange controls.
Always create harmful economic distortions and they get worse over time.
And the distortions that we're gonna see here are these price controls are going to increase the cost of insurance for everybody particularly for young adults estimates has said that.
Premiums for young adults will go up by ten to 30% or maybe even more.
And -- but perhaps the worst part is if you think insurance companies try to avoid or -- treat sick people now.
Wait until you see how much they avoid -- and try to dump sick people.
Once they operate under these price controls that -- -- and sell a 25000 dollar policy for just 101000 dollar.
And they go to the way they can avoid those -- people they will be able take advantage of the right and the government will have to pick up the very -- people -- dump where you surprised by Erskine bulls with a co chair of the deficit commission.
Basically saying that federal spending.
On health care -- Swamp the budget that along with entitlements and also heard from dog Ellman -- telling the deficit commission the same thing and Peter -- -- saying the deficit is unsustainable.
These basically by larger Democrats telling.
This that was the committee panel that the plot that that information.
And I think what was most revealing.
In the past couple days is the Congressional Budget Office reports is the nonpartisan Congressional Budget Office.
Issued a report that said over the long term they don't believe that the that the recent health care law obamacare is going to reduce the deficit.
They think that that spending cuts that they that existed that law are not going to be sustainable.
That's why would -- put together their more realistic picture of what the deficit and debt are going to look like.
In the coming decades.
They assume that those cuts would not take full effect so that really.
The lies the claim that Obama -- going to reduce the deficit.
Just as all the other news that we're hearing about the implementation of obamacare.
The lies that claim that's going to reduce health care costs have this law is increasing health insurance premiums it's going to increase the deficit is going to increase the federal debt.
Michael cannon from the Cato Institute we got both sides that -- thank you -- appreciate it.
Filter by section