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Sunday, September 13, 2009

Newt Gingrich on "Meet the Press" Says Obama Can't Pay for ObamaCare without Taking from Medicare or Massive Tax Increases - Video 9/13/09

Here is video of Newt Gingrich on Meet the Press today talking about President Obama's pledge not to add one dime to the deficit with his Health Care legislation.

Gingrich said Obama is going to take $200 billion away from Medicare Advantage in order to try and pay for his plan. But Gingrich said American know instinctively that you cannot undertake a massive Government Program like Obama is suggesting without ballooning the deficit, or without "massive tax increases," which would further deepen the recession.

Gingrich is right on the mark here. Republicans need to keep hammering on how Obama can possibly pay for this boondoggle of all boondoggles.


Diogenes September 13, 2009 at 4:13 PM  

Awwww, now Brian, you're right to be concerned about how this will be paid for. But you're kind of misleading in quoting Saint Newt, aren't you? Did you actually watch MTP, or just see this clip? because Howard Dean explained what Newt meant by "taking away $200 billion from Medicare Advantage."

The $200 billion figure comes from the amount of the federal subsidies that are currently given to private insurers to support their Medicare Advantage policies. Those private insurers claimed that they could do a much better job than "the government" in providing Medicare coverage for some folks, but it turns out those private insurers needed federal subsidies in order to remain cost effective.

So the $200 billion isn't money being taken out of the pockets of Medicare recipients. The $200 billion is being taken out of the bank accounts of those private insurers who will now have to find a different way to remain competitive. And, if that means higher premiums that price their policies out of the market, so be it. That's what competition is about, right?

(Or maybe, just maybe, it will mean that those private insurers will have to shave their profit margins a bit. It's just a crying shame that those corproate CEOs and stockholders will have to take a haircut, instead of relying on us taxpayers to provide them with a nifty profit!)

Anonymous,  September 14, 2009 at 9:07 AM  

From RWinks---Over 20% of Medicare patients are on Advantage plans. HR3200 effectively bans such plans. Millions will be forced to switch to supplement plans which are not as good or as cheap. "You can keep the plan you have", just one more of Obama's lies.

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