He’s just oozing confidence, huh?
“We don’t know yet,” said Cutler. “So what the president is trying to do is to say the website is not working, the exchanges are not working. Let’s try and slow the process down and delay it by a year. And if it turns out to be a delay of a year, then we can work through that. It would be uncomfortable as it has been for the past month, but it will turn out okay. If it becomes a permanent situation that people who are healthier stay away and people who are sicker go into the exchanges, that becomes a very big problem.”
“Is that the beginning of the so-called death spiral?”
“That could be the beginning of a death spiral,” said Cutler. “That is, you could have a situation where the only people in the exchanges are very unhealthy people with very high premiums.”
If you like your death spiral, you can keep your death spiral.