Obamacare Lives To Die Of Natural Causes – Ep. 237


*  Earlier I talked about the Trump honeymoon, and  my belief that it wouldn't last long, in fact I thought it might have ended before the marriage began with the inauguration
* It did carry on a bit after that, but it seems to me that the honeymoon is ending now
* Today, the attempt to repeal and replace ObamaCare went down in flames
* That's something I had predicted a while ago; I said that I doubted that they would be able to repeal Obamacare and it turns out that I was right
* They didn't do it
* In fact, President Trump threw a Hail Mary late in the negotiations by threatening the Republican holdouts: "Pass this bill or else."
* He basically said, it's this or nothing - If you don't replace ObamaCare, you're stuck with the consequences
* I think that was a bad gamble for the President to have made, in fact as soon as he issued that ultimatum
* I thought that was going to be a problem because I didn't think the conservatives were going to buckle as a result of that threat
* And they didn't
* Now, not only has the bill been pulled, President Trump is in a very awkward position because he's already said
* Take it or leave it
* And Republicans left it
* Now how does he come back to the negotiating table?
* Now, if he comes back, he doesn't have a lot of credibility
* I still think it would be better if he went back to the negotiation table
* I think it was a bad tactic for Trump to say, "It's my way or the highway
*  I think that if this bill doesn't succeed, they should try again
* They should recognize the problems in the replacement bill and work harder to fix them
* The problems is a lot of Republicans don't have the stomach for real reform

 

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Peter Schiff is an economist, financial broker/dealer, author, frequent guest on national news, and host of the Peter Schiff Show Podcast. The podcast focuses on weekly economic data analysis and unbiased coverage of financial news, both in the U.S. and global markets. As entertaining as he is informative, Peter packs decades of brilliant insight into every news item. Join the thousands of fans who have benefited from Peter's commitment to getting the real story out to the world.