president and house gop disagree on health insurance
In a press conference on June 23rd, President Obama said the government run universal heath insurance plan won't put private companies out of business. Obama's plan will cost $1.6 trillion according to the Congressional Budget Office. That's more than Obama projected. That number brought criticism from the U.S. House Republican leaders. They said the plan costs too much.
House Republicans weren't in too good of a mood because they felt jilted that Obama hadn't used any Republican ideas when it came to economic recovery. The reduction of patient choice also was a concern with Republicans on the government health insurance issue. One item that concerned most Republicans was the issue of Americans losing their private health insurace coverage.
Cost may be a larger issue than one might think. In a recent poll Americans are concerned more with reigning in the debt rather than with stimulating the economy. When we get to the last quarter of this year, we'll see that the government is propping up the economy more than it probaly should.
Housing sales may be higher and that would be a bull signal for the economy, but sales figures are very distorted due to the government's intervention in the housing market.
