TuTu Monroe
A Realist
BY: Jack WelchCNBC.com
Published: Tuesday, 23 Mar 2010 * 10:40 AM ET
The newly passed overhaul of the nation’s health care system is expected to push expenses "out of sight" and cost the country "a couple trillion dollars," Jack Welch, former chairman and CEO of General Electric, told CNBC.
"Right now, people do get health insurance in a more expensive fashion through emergency rooms and the government supports that,” Welch said in a live interview. “It’s been supported for years and it's a well known phenomenon.”
Welch said while he doubts that employees will be laid off due to the expense of health care, the cost of the new policy is going to be “out of sight.”
“I think we're talking about a couple trillion dollars…of overage, not savings," he said.
“Attacking this thing piece by piece would be a way to go at it, and if the objective is to insure more people, we can do that piece by piece by piece and pay for it," he said of the bill. "Pay for it with a Medicare, tax on the rich if they want."
http://www.cnbc.com/id/35999296
Published: Tuesday, 23 Mar 2010 * 10:40 AM ET
The newly passed overhaul of the nation’s health care system is expected to push expenses "out of sight" and cost the country "a couple trillion dollars," Jack Welch, former chairman and CEO of General Electric, told CNBC.
"Right now, people do get health insurance in a more expensive fashion through emergency rooms and the government supports that,” Welch said in a live interview. “It’s been supported for years and it's a well known phenomenon.”
Welch said while he doubts that employees will be laid off due to the expense of health care, the cost of the new policy is going to be “out of sight.”
“I think we're talking about a couple trillion dollars…of overage, not savings," he said.
“Attacking this thing piece by piece would be a way to go at it, and if the objective is to insure more people, we can do that piece by piece by piece and pay for it," he said of the bill. "Pay for it with a Medicare, tax on the rich if they want."
http://www.cnbc.com/id/35999296