Senate Republicans have taken their first steps to repeal Obamacare. In a series of vote passed late Thursday night a budget reconciliation was passed 51-48. This means that certain core financial elements of the ACA will be withdrawn. Is this a good sign? I think so, but as I have often said I am doubtful that a full repeal of the law will be forthcoming. It is important to note that while this is a huge step, house Republicans have no replacement plan. Senator Rand Paul had an excellent free market solution that had a balanced budget and wouldn’t increase the national debt a penny. Of course because this is logical and fiscally conservative not one Republican could get behind him.
In all honesty the repeal of the law is up in the air and is likely only to be partially repealed. As I talked about in an earlier episode the individual mandate will be kept and insurance plans still won’t be able to cross state lines. While a cheaper Obama care is still better than full Obamacare, it still burdens taxpayers. It still burdens the healthy and the justly wealthy and it still impacts insurance premiums. So would a partial repeal still be any better? Republicans have a big opportunity before them so I hope they don’t blow it.