It seems that last week's bipartisan summit on health care reform has done little to build support for the President's idea of health care reform.
In an interview' with CNBC, Warren Buffett, a Democrat and supporter of President Obama, advised the President to follow the wishes of the American people to scrap the current health care legislation and start afresh.
Buffett lamented that unfortunately, we came up with a bill that really does not attack the cost situation that much. His concerns have been certified by the President's own Centers for Medicare and Medicaid Services who have reported that the Senate health care bill would raise national health expenditures by $234 billion by 2019.
Buffett explained that lowering costs should even take priority over expanding access to care, since he does not believe in insuring more people till you attack the cost aspect of this.
Since cost is one of the current barriers for expanding accessibility of coverage, the President would be sensible to take up Buffett's advice.
It is evident from Warren Buffett's interview with CNBC that even Obama's biggest fans think this is not a good idea. As talk of passing a bill through reconciliation intensifies, Democrats should instead take into consideration other options before them, which include several incremental changes that would earn bipartisan support in Congress and among the American people.
U. S. health care costs are close to 17% of overall Gross Domestic Product, which in other countries health costs are 10% of GDP or lower. In addition, America has fewer doctors, nurses and hospital beds per capita than to much of the world.
Buffett also said that while the economy is improving, job growth will remain slow.
The President is expected to outline a refurbished proposal tomorrow that would add to costs over the next 10 years, but is also expected to bring down expenses by offering coverage to millions of uninsured Americans.
Now, let's wait and watch how the new proposal is taken by both the parties and Americans on the whole.












