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TOPIC: (3/1/10) Warren Buffett would scrap health care bill (Politico)
VotedHillary


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(3/1/10) Warren Buffett would scrap health care bill (Politico)
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In an interview with CNBC, Buffett said the current bill does not focus on controlling costs, which he sees as the central problem that must be addressed to reform the system. He added that while he does not like the Senate bill, he’d vote for it in preference to doing nothing.

What we have now is untenable over time,” said Buffett, an early supporter of Obama’s candidacy. “That kind of a cost compared to the rest of the world is really like a tapeworm eating, you know, at our economic body.”

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.”

But while Buffett, the chairman and CEO of Berkshire Hathaway, applauded Obama for taking up the reform effort, he said that “unfortunately, we came up with a bill that really doesn't attack the cost situation that much.”

Asked if he would be in favor of scrapping the Senate health care bill, Buffett responded: “I would be.”

Read more: http://www.politico.com/news/stories/0310/33693.html#ixzz0gzcgMI4Z


Buffet just crystalized Obama supporters to me.  He acknowledges full-well that this bill is no damn good and should be scrapped, BUT because he is an Obama supporter, he also states he would encourage its passage.

Beyond partisan....and into the cult-like.

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Sanders


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Very interesting reading Warren Buffet's remarks. I am though looking at his remark with a skeptic's eyes. Buffet's company owns many insurance companies.. He has a big vested conflicting interest in the government's efforts to contain the insurance beast.

It is quite possible that candidate Obama's big supporters were in favor of him because they expected corporate socialism from the winner.. and they have been getting that for the most part in 2009 in both bailouts and stimulus. But the HCR/HIR has not fit that mold. Perhaps that is why there is so much push back. We do have to step back a bit now that we are seeing 39% to 50% increases in annual insurance premium from insurance companies.

Candidate Obama was also the beneficiary of mega bucks from lawyers. This may explain why there is not even a peep from him about tort reform.

It is too bad that we really do not have a better understanding of the health care reform that the President is pushing. The beast is too big to digest, but I can see that systemic reform may take a big bill. I just hope what they plan to push through - and it is looking like it will go thru after all - does tame the insurance beast a bit.

Yes, there is need for urgent focus on jobs.. but the insurance rates (23%, 39% in CA, 50% in MI ...) hike has made the insurance reform somewhat clear and present danger to the people.



-- Edited by Sanders on Tuesday 2nd of March 2010 12:34:46 PM

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