President Trump in a Tuesday tweet embraced the new House plan to repeal and replace much of ObamaCare as his own.
In doing so, Trump has launched what is likely to be a tumultuous phase of his presidency that threatens to sidetrack the rest of his economic agenda.
"Our wonderful new Healthcare Bill is now out for review and negotiation. ObamaCare is a complete and total disaster — is imploding fast!"
While Trump may overstate just how fragile the ObamaCare exchanges are, there's little question that the GOP has to act fast to avoid an exodus by insurers waiting for clarity about the rules for 2018 ahead of a June deadline to set premiums. Humana (HUM) has already said it will exit the exchanges in 2018, while Aetna (AET) and Dow component UnitedHealth (UNH) have one foot out the door, and Anthem (ANTM) and Molina (MOH) won't commit to sticking around.
Trump promised throughout his campaign that he would "take care of everybody." Speaking before Congress last week, he vowed that his plan would "bring cost way down and provide far better care."
"Everything that is broken in our country can be fixed. Every problem can be solved. And every hurting family can find healing, and hope."
Yet the gap between those promises and the American Health Care Act legislation unveiled by House Republicans on Monday appears to be massive. --->Read the rest from Jed Graham HERE.
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