Impact of health care overhaul on federal deficit
Rep. Jeb Hensarling sounds off
- Duration 5:11
- Date Jun 29, 2012
Rep. Jeb Hensarling sounds off
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-- that Supreme Court opinion the Supreme Court ruled the individual mandate in the health care law is allowable only because it's -- tax.
So what does the decision mean for you the tax Payer.
The Congressional Budget Office estimates that health care law will decrease the federal budget deficit by 143.
Billion dollars over ten years.
It's expected the cost of insurance coverage will go up by 788.
But that amount would be offset by a 511.
Billion dollar decrease in spending and a 420 billion dollar increase in revenue.
Over the same period.
Lots of billions and all that here to help us understand what the ruling means for the overall federal deficit and your pocketbook.
Texas congressman Jeb -- -- vice chairman of the financial services committee.
He was co chairman of -- deficit reduction committee as well also -- taxes congressman going up as a result of this health care ruling.
Well they absolutely are they already war.
To hundreds of billions of dollars and now the Supreme Court and what appears to be somewhat tortured logic has set a fine is attacks.
They're going up even further so we know number one the Congressional Budget Office -- is bill weighs in at roughly.
Two trillion dollars you had 800 billion dollars of taxes.
Already since its passage an average -- -- -- four.
Is paying 2200.
In insurance premiums the bottom line is.
Care Act is not so affordable for -- For families and for dwindling federal treasury.
Aside from its constitutionality.
Lost in all of furor among conservatives over can.
Chief Justice John Roberts vote tomb essentially you've noted the liberal side or go with align himself with the liberals.
And allow this -- -- stand is this quote in his opinion Wendell Goler just touched on and I want to read the entire thing.
For you he writes members of this court.
Interpret the law.
We -- neither the expertise nor the prerogative to make policy judgments those decisions are entrusted to our nation's elected leaders who can be thrown out of office.
If the people disagree with them.
It is not our job to protect the people.
From the consequences.
Of their political choices.
He seems to be saying hey if the president and the congress want to pass a law like this.
Far be it from us on the Supreme Court to decide whether it's a good idea or not.
Well the Supreme Court had their say yesterday.
The house the people's house we'll have their say the second week of July we will vote to repeal.
The president's health care plan in its entirety but you've done that red carpet.
We we're gonna do it again it's front and -- -- what the American people want it's a threat.
To the patient centered health care system it's a threat.
To our national.
Treasury it's a threat to job creation -- and finally last but not least.
The people the people who are still sovereign will be heard on the first Tuesday.
In November and I think they'll say you know what.
We don't want the 121000 pages of regulations we don't want to 159.
Boards commissions programs getting between us.
In our doctor these are very personal decisions about our family's health care.
And so again this is thrown back into the legislative and political arena and and will have a -- litigated.
On Election Day.
The president says is you know it's time to move on we can't fight the battles of the past this is sort of old news it is settled law what are you sit well the national debt is crushing this nation he said the worst.
Economic and job growth record since the great depression and one of the great impediments to both of those happens to be.
His health care.
Listen -- that the debt is constitutional it does it mean it's a wise policy.
Just because his health care plan may be constitutional by 54 decisions for -- court.
Does not mean it's good policy needs to be repealed because it hurts our health care.
We can't afford it it's hurting job growth you say repeal it and the house has scheduled that vote to do so it's almost certainly expected to -- you've already voted that way.
Before as I noted by the senate is certainly a roadblock for you is there well there's something -- here now all of sudden we know that the find is -- tax.
Lot of people campaign and the fact that they would never impose -- tax.
When anybody making less than 200000 dollars.
According to the Supreme Court the policy does just that.
So a number of people who say they would never.
Impose a tax on those making less than 200000 dollars they'll have an opportunity to put their vote where their mouth is -- the house moves.
For full repeal the week.
Week after next so you think there are some embattled or -- retiring Democrats in the senate who might vote against.
Of the the law as it stands might vote to repeal bill will who will say they'll have to again.
Make sure their vote comports with what -- -- they'll have an opportunity to do that -- -- calling it attacks could change the name of the game congressman Jeb and Schilling Republican of Texas.