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Mr. HENSARLING. Mr. Chairman, regrettably the President's policies have failed and continue to harm our economy.
We were told if we would pass the stimulus plan, unemployment would never exceed 8 percent, and instead it's exceeded 8 percent for 37 straight months. We were told that the President would cut the deficit in half, and instead we have the worst debt in our Nation's history. We were told he would take steps to reduce the price of oil, and instead gas prices have doubled at the pump. One more of his policies that has failed is clearly his health care plan.
We were told that it would create jobs, but instead every day I hear from job creators in the Fifth District of Texas who write me things like:
ObamaCare will put a tremendous burden on my company. I can't put a 5-year plan in place. I therefore have to withhold cash for expansion.
I also hear things like:
I could start two companies and hire multiple people, but based on this administration and the lack of facts with ObamaCare, I will continue to sit and wait.
We know now that the Congressional Budget Office says that the health care plan will cost us almost a million jobs from this economy.
We were also told that if we pass this that health care would be more affordable and lower premiums, but instead the Congressional Budget Office now tells us that the new benefit mandates will force premiums to rise in the individual market by $2,100 per family.
Any way you look at it, the President's health care law is harming job growth; it's harming our economy. But perhaps even more ominously, it's the infamous Independent Payment Advisory Board, section 3403 of the act, that will harm our seniors.
The IPAB is going to be comprised of 15 unelected, unaccountable bureaucrats handpicked by the President. Their sole job is going to be to ration health care to our seniors and impose Federal price controls. This will undoubtedly slash senior access to doctors and to other providers. They literally will be making decisions about the health of our loved ones, our parents, and our grandparents.
The Centers for Medicare and Medicaid Services actuary has confirmed that large reductions in Medicare payment rates to physicians would likely have serious implications for beneficiary access to care utilization, intensity, and quality of services.
Mr. Chairman, when it comes to my parents, both of whom are on Medicare, no government acronym, no government bureaucrat, no government board can ever substitute for the good judgment of their chosen family doctor. That's why today I'm proud to stand with my colleagues here to vote to repeal the IPAB.
Once again, we need to repeal the President's health care plan and do it today.
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