George Stephanopoulos: “The president has also come forward with a new proposal overnight saying it's time instead to do away with Obamacare, instead to have the money go directly to the people. Do you have a formal proposal to do that?”
Treasury Secretary Scott Bessent: “We don't have a formal proposal, but you know, what I have noticed over time is that the Democrats give all these bills the Orwellian names, the Affordable Care Act, the Inflation Reduction Act, and we end up with just the opposite. You know, the Affordable Care Act has become unaffordable, and the Inflation Reduction Act set off the greatest inflation in 50 years.”
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