Mish Shedlock Blog | Ryan Foresees “Bloodbath” if No Obamacare Replacement; Cotton Says Ryan’s Bill Won’t Pass Senate | Talkmarkets - Page 2
Investment Advisor Representative - Sitka Pacific Capital Management

Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market ... more

Ryan Foresees “Bloodbath” if No Obamacare Replacement; Cotton Says Ryan’s Bill Won’t Pass Senate

Date: Sunday, March 12, 2017 8:16 PM EDT

Republicans are being confronted with the political hazards of fulfilling a core Donald Trump pledge as forecasts suggest their plan to repeal the Affordable Care Act will rip health insurance away from millions of people.

While 20m people secured health insurance under President Barack Obama’s reforms, at least 15m will lose it under the Republican plan, according to the Brookings Institution, a think-tank. S&P Global Ratings forecast that 6m-10m people would forfeit coverage.

“I’ve been involved in campaigns since 1970 and I have never seen a more politically dangerous undertaking than the way they are handling this,” said Steve Bell, a former Republican staffer on Capitol Hill.

While moderate lawmakers worry about low-income Republican voters losing health insurance, rightwingers on the other side of the party complain that the plan from the House of Representatives is insufficiently radical.

Republican leaders are braced this week for an official estimate of how their plan would affect health coverage from the Congressional Budget Office, a non-partisan body. But in anticipation of an ugly number, which could come as early as Monday, the White House has sought to undermine the CBO’s credibility.

Tom Cotton, a Republican senator from Arkansas, said the bill in its current form was a non-starter. “I would say to my friends in the House of Representatives . . . do not walk the plank and vote for a bill that cannot pass the Senate and then have to face the consequences of that vote,” he told ABC.

Paul Ryan, the House speaker who is the bill’s biggest champion, has said Republicans must “make good on our word” to repeal and replace Obamacare, which has been a party mantra in four consecutive elections.

But he has dodged questions on how many people would lose coverage under their plan, stressing instead that the change of system would be managed to minimise disruption.

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