Warren Buffett Says “Scrap Obamacare” – Three Years Ago

Update September 19, 2013

Sadly the initial information isn’t true — I was encouraged and thought Warren Buffett was coming out of the Obama haze and seeing that while realistic health care reform and medical litigation reform is very needed in the US — Obamacare is a disaster, but the left seem determined to run us off a cliff to enact this law. Well, that’s not entirely true – they are exempting their friends and big businesses, Congress, and on and on and on. But the “middle class” and the millions that are struggling – who really NEED help, are being hung out to dry again. So, I am sorry for giving false hope that someone the president likes to quote – had finally decided to stand up against this impending mess that we all need to deal with on October 1. Although I still have no clue if/when I need to do anything — does anyone else???

Info about what Buffett evidently said – http://www.businessinsider.com/defund-obamacare-warren-buffett-quote-government-shutdown-debt-ceiling-2013-9

Original Post –

Obama is determined to keep Obamacare – no matter how damaging it will be to the US. But how many times has he used Warren Buffetts words to push one of his agendas – the tax laws are a big one that comes to mind. (Obama – “Warren Buffett’s secretary pays higher taxes….”)

This time – Warren Buffett is even speaking out about scrapping Obamacare and starting over. We are less than 2 weeks from major parts of this “trainwreck” being implemented, could Obama finally admit he screwed up…. probably not, but it would be a great time to START being accountable for his mistakes.

(I added the red type.)

Buffett: Scrap Obamacare and Start All Over

By Money Morning Staff Reports

Healthcare costs in the United States are like a tapeworm eating at our economic body.

Those words come from famed investor Warren Buffett, who said he would scrap Obamacare and start all over.

“We have a health system that, in terms of costs, is really out of control,” he added. “And if you take this line and you project what has been happening into the future, we will get less and less competitive. So we need something else.”

Buffett insists that without changes to Obamacare average citizens will suffer.

“What we have now is untenable over time,” said Buffett, an early supporter of President Obama. “That kind of a cost compared to the rest of the world is really like a tapeworm eating, you know, at our economic body.”

Buffett does not believe that providing insurance for everyone is the first step to take in correcting our nation’s healthcare system.

“Attack the costs first, and then worry about expanding coverage,” he said. “I would much rather see another plan that really attacks costs. And I think that’s what the American public wants to see. I mean, the American public is not behind this bill.”

Editor’s Note: Two paragraphs of Obamacare will force the government to become the biggest buyer of vaccines and one company will receive the majority of these new contracts. This firm is working on vaccines for the flu, AIDS, and practically every infectious disease known to man. To see the one stock that will make a killing from Obamacare, click here.

Buffett’s certainly not alone in his discontent for Obamacare. Ask millions of Americans what they think about the new law, and chances are they’re ready to pop a jugular.

The government program, slated to being in earnest October 1 when the exchanges go live, is one of the most hated bills in history.

Critics heavily oppose the mandate requiring them to purchase health insurance. They’re also furious at all the new taxes, fees, and higher premiums they’ll be stuck paying, thanks to Obamacare.

Yet, while millions of Americans loathe every facet of The Affordable Care Act, as it’s officially titled, another group of Americans see it as a once-in-a lifetime opportunity to get rich: Investors.

According to most Wall Street experts, Obamacare will create unheard of fortunes for investors who tap into the right companies.

That’s because the U.S. will spend billions, even trillions of dollars implementing, regulating, and enforcing Obamacare.

Select companies and their investors are set to make a fortune in the next several months – and years – as the full Obamacare plan gets underway.

Even main street investors will have a chance to reap big paydays – provided they know which sectors stand to benefit most.

With the implementation of Obamacare quickly approaching, millions of Americans are asking what they can do to prepare for all the new costs and rules.

One expert, Betsy McCaughey, former Lieutenant Governor of New York and constitutional scholar with a Ph.D. from Columbia University, recently wrote a best-selling book showing Americans how they can survive Obamacare.

McCaughey is one of the only people in the country — including members of Congress – who has actually read the entire 2,572 page law.

Her book, titled Beating Obamacare: Your Handbook for Surviving the New Health Care Lawbreaks down the complicated bill into 168 pages of actionable advice.

The book, written in an easy going, easy to read style, shows some startling facts about Obamacare not seen in the mainstream press.

For example, she points to a little known passage in the bill that shows how you could get slapped with a $2,000 fine for not having health insurance – even if you do actually have it.

She also goes into detail explaining how one third of all U.S. employers could stop offering health insurance to their workers.

In one chapter, she shows how ordinary Americans will get stuck paying for substance abuse coverage even if they never touched a drink or drug in their life.

And according to McCaughey’s research, senior citizens will get hit the hardest. “If you’re a senior or a baby boomer, expect less care than in the past,” she says. “Hip and knee replacements and cataract surgery will be especially hard to get from Medicare in the months ahead.”

She warns seniors to get some of those types of procedures done now before Obamacare goes into full effect.

In addition, many will find it difficult to keep their medical records private, according to McCaughey.

“The law will compel Americans to share with millions of strangers who are not physicians confidential private and personal medical history information they do not wish to share.”

Editor’s Note: Real facts and figures about the hidden Obamacare taxes and fees and how they will affect ordinary Americans and seniors are hard to find. As a courtesy, Money Morning is giving readers a copy of Betsy McCaughey’s new book Beating Obamacare: Your Handbook for Surviving the New Health Care Law. But only a limited number are available. Please go here to reserve your free copy today.