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Member Of Congress Warns Of A 1,000 Point Stock Market Crash If Obamacare Lite Does Not Pass March 23, 2017

Obamacare LiteAre we going to see a dramatic stock market plunge if the effort to get “Obamacare Lite” through the U.S. House of Representatives ultimately fails?  On Thursday, a vote on the Republican healthcare bill was postponed once it became clear that there would not be enough votes for it to pass.  House Republican leaders are still optimistic that there will still be a vote on Friday, but that is far from certain.  Many strong conservatives in the House are balking at supporting this bill because while it does eliminate a few of the most troublesome provisions of Obamacare, it keeps many of the elements of Obama’s signature healthcare law that have proven to be popular with the American people.  In other words, this bill is much more about “tweaking” Obamacare than “repealing” it.

This is the first major legislative test for President Trump and House Speaker Paul Ryan, and so far they are failing.  House Republican leaders have gone into panic mode, because a “no” vote could have some very serious implications outside of Washington.  In fact, one member of Congress is warning that if this bill does not pass that we could see the Dow drop 1,000 points in a single day

It happened in real life on Sept. 29, 2008, when the House first voted on a Wall Street bailout intended to stem the financial crisis. In a swirl of uncertainty, Republican members stampeded to “no,” defeated the measure and watched the Dow tumble by more than 700 points. The same thing could happen on the GOP health bill, a veteran member told CNBC on Thursday — only bigger.

“If this goes down, we could take a 1,000-point market hit,” the member said. To be sure, traders and investors tell CNBC the market likely will go lower if there is no compromise Thursday, but the decline won’t likely come near a 1,000-point drop. That would represent a nearly 5 percent drop in the Dow, a bit less than the 7 percent decline when the index fell 777 points in September 2008.

And even if this bill does pass, we are probably headed for some sort of significant downturn anyway.  Sven Henrich has just told CNBC that he believes that “the market could see a 5 to 10 percent drop in the near term”…

The market has enjoyed a stellar bull run, but a correction is likely looming, according to Sven Henrich, also known as the “Northman Trader.”

A very long-term analysis of the S&P 500, in conjunction with a look at the CBOE Volatility Index, leads Henrich to believe the market could see a 5 to 10 percent drop in the near term.

But fixing our failing healthcare system is far more important than trying to prop up the financial markets, and so the strong conservatives in the House are quite right to stand by their principles.

Simply “tweaking” Obamacare is not going to fix anything, and it is extremely disappointing that President Trump and Paul Ryan are advocating such an approach.

Thankfully, there are a number of strong conservatives in Congress that are willing to take a stand for what is right even if it means standing up against their own party.  One of those principled conservatives is Senator Rand Paul, and he says that right now there are at least 35 Republican “no” votes in the House, and that would be enough to kill the bill…

I think there’s easily 35 no votes right now so unless something happens in the next 24 hours, I would predict they pull the bill and start over. I think if conservatives stick together, they will have earned a seat at the table where real negotiation to make this bill an acceptable bill will happen. But it’s interesting what conservatives are doing to change the debate. We went from keeping the Obamacare taxes for a year—hundreds of billions of dollars—but they’re coming towards us because we’re standing firm. So we have to stick together, and if we do stick together there will be a real negotiation on this. The main goal I have is not to pass something that does not fix the situation. If a year from now, insurance rates and premiums are still going through the roof and it’s now a Republican plan it will be a disservice to the president and all of us if we pass something that doesn’t work.

If this bill is ultimately defeated, I have an idea that might work.

Why don’t we get the government out of the healthcare business entirely?

Once upon a time when we actually let the free market determine the allocation of healthcare resources, we had the best healthcare system in the entire world.

But after decades of experimenting with socialist principles and adding mountains of rules, regulations and red tape to the system, we have a giant mess on our hands.

Either we need to go back to a true free market system, or we might as well go ahead and just socialize the entire thing.

Right now, hard working families have to pay for their own healthcare and also pay for the socialized healthcare that more than 125 million other Americans are receiving.

Yes, when you add up all of the Americans that are on Medicaid, CHIP, Medicare and other government programs, it comes to more than 125 million people.

So a lot of hard working families are scared to ever go to the hospital because their insurance deductibles are so high, and yet their taxes go to pay for all of the free healthcare that people on government assistance are receiving.

If the government is going to pay for the healthcare for nearly half the country, why should the rest of us have to pay for ours?

What we have now is such a ridiculous system, and what President Trump and Paul Ryan are proposing is not “free market” in any way, shape or form.

So I say let this horrible bill fail even if it means that financial markets will freak out for a little while.

Hopefully what transpires over the coming days will cause Republican leadership to go back to the drawing board, and a clean repeal of Obamacare would be a really good place to start.

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How Angry Will You Be If The Republicans In Congress Do Not Repeal Obamacare? February 23, 2017

Obamacare Report Card - FacebookTop Republicans are now publicly saying that Obamacare will never be fully repealed. In fact, many Republicans in Congress are already using the term “repair” instead of “repeal” to describe what is going to happen to Barack Obama’s signature healthcare law. Without a doubt, the Republicans in Congress are eventually going to do something, but strategists in both parties are now suggesting that most of the key elements of Obamacare are going to remain once everything is all said and done. It will be put into a more “conservative” package, but it will still be Obamacare.

On Thursday, former House Speaker John Boehner made headlines all over the country when he said that a complete repeal of Obamacare is “not what’s going to happen”.  Instead, Boehner said that Republicans are going to “fix Obamacare” and that they will “put a more conservative box around it” in order to keep their constituents happy.

Of course this isn’t what we voted for. For years, Republican politicians all across the country have been promising that Obamacare would be repealed once they got control of Congress, but now Boehner is telling us that all of that was just “happy talk”

Earlier in the panel discussion, Boehner said he “started laughing” when Republicans started talking about moving lightning fast on repeal and then coming up with an alternative.

“In the 25 years that I served in the United States Congress, Republicans never, ever, one time agreed on what a health care proposal should look like. Not once,” Boehner said. “And all this happy talk that went on in November and December and January about repeal, repeal, repeal—yeah, we’ll do replace, replace—I started laughing, because if you pass repeal without replace, first, anything that happens is your fault. You broke it.”

When the Republicans finally get around to doing something, they will inevitably declare it to be a great victory, but will it actually be that much different from what we have now?

Yes, the IRS penalty for not having health insurance will probably go. But there will still be coverage for children up to the age of 26, there will still be mandatory coverage for preexisting conditions, there will still be mandatory coverage for maternity expenses, there will still be some form of Medicaid expansion and there will still be subsidies for the poor.

In the end, we are still going to have a healthcare system where half the country pays for the healthcare for the other half of the country.

That isn’t fair, and it never will be.  One half of the country shouldn’t have to pay much higher rates for their own health insurance and also pay for the healthcare of everyone else in the nation as well.  Either we should go back to a free market system, or they might as well go ahead and socialize the entire thing.

The thought of sticking with what we have right now is utter insanity, but unfortunately that is what top Republicans mean when they speak of “repairing” Obamacare. The following comes from the New York Times

“When you talk about ‘repeal,’ you have just used a word that is very polarizing,” said Representative Tom MacArthur, Republican of New Jersey, who meets weekly with moderate Republicans and Democrats of equal number. “When you go to Democrats and say, ‘Help us repeal,’ that puts them in a box. If you say, ‘Would you help us repair something?’ people start listening in a whole other way.”

How in the world do you “repair” a steaming pile of garbage?

I just don’t understand.

What the Republicans need to do is very simple. As Jim Demint has suggested, the Republicans in Congress simply need to pass the same Obamacare repeal that Barack Obama vetoed not too long ago…

Heritage Foundation President Jim DeMint, the former South Carolina Republican senator, called on activists attending the Conservative Political Action Conference to push their members of Congress to send to President Donald Trump the same legislation that dismantled the law and was vetoed by President Barack Obama with all due haste.

“We must and we can repeal Obamacare now,” DeMint said. “They should send that same bill to President Trump right now.”

So what is keeping Republicans in Congress from moving forward?

One thing is the defunding of Planned Parenthood. Some liberal Republicans are promising to vote against any Obamacare repeal bill that defunds Planned Parenthood

Sen. Lisa Murkowski (R-Alaska) says she will not vote for an ObamaCare repeal bill that defunds Planned Parenthood.

In her address to Alaska’s state legislature Wednesday, the moderate Republican offered her firmest commitment yet that she will not support defunding Planned Parenthood.

“I, for one, do not believe that Planned Parenthood has any place in our deliberations on the Affordable Care Act,” she said.

Another thing that is giving some Republicans pause are the angry protesters that they are running into at town hall meetings…

U.S. Sen. Charles Grassley of Iowa and Reps. Jason Chaffetz of Utah, Marsha Blackburn of Tennessee and Tom McClintock of California are among Republicans who faced hostile audiences at recent town hall meetings.

This comes after the Women’s March on Washington that drew hundreds of thousands of protestors the day after President Donald Trump’s inauguration.

“Republicans need to be paying attention and doing their best to understand the energy from the town halls,” said Nathan Gonzales, editor and publisher of Inside Elections, a Washington-based publication that tracks congressional races.

Of course a lot of those “angry protesters” are from Barack Obama’s private army of more than 30,000 volunteers that are being deployed around the nation in a desperate attempt to defend Obamacare.

In the end, the truth is that the Republicans should be listening to the voters that sent them to Washington in the first place. Most of those voters expected an immediate Obamacare repeal, and now that it has not happened it is making for a very confusing tax season. The following comes from Politico

Republicans’ stalled campaign to repeal the Affordable Care Act is sowing confusion among those now trying to do their taxes.

Many taxpayers believe Republicans have already repealed the law, tax preparers say, and they’re surprised and upset to learn they are still subject to Obamacare’s penalty for failing to have health insurance — a charge that climbed this year to more than $2,000 per family.

Until it is repealed, Obamacare will continue to kill jobs and will continue to kill the middle class.

It was one of the worst pieces of legislation ever written, and it boggles the mind that so many Republicans in Congress are hesitant about repealing it.

Unfortunately, just as I portray in my novel, America is rapidly going crazy.

We have been given over to a reprobate mind, and our leaders can’t even seem to think straight any longer.

If Obamacare is going to be repealed, now is the time. Please contact your representatives in Congress and tell them that a “fix” will not work and that we want Obamacare to be completely repealed and replaced with a free market alternative.

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