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.”
No kidding. But as Obama obnoxiously reminded us Monday during his angry temper tantrum, he won. So screw you, America.
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.
If as renowned an investor as Buffett loathes ObamaCare, perhaps it’s his conscience eating at him. He must be fully aware what a disaster Obama is and be having second thoughts. That’s all well and good, but he and the rest of Obama’s supporters should have taken pause to think about it in between gulps of the Koolaid.
Update: The original report failed to note Buffett’s comment were made in 2010.
It appears that Buffett made his anti-Obamacare comments in 2010, thereby showing that he, like most of the American people, has opposed Obamacare since even before it was passed—a point that Mark Hemingway addressed yesterday in response to USA Today’s implication that Americans’ widespread dislike of Obamacare is mostly attributable to Republicans’ efforts to fight it.