Breaking News on Health Care Reform!

Ric Joyner, CEBS, CFCI

Joe Lieberman an independent  Senator from Connecticut which usually votes with the democrats, has just announced he will side with the Republicans on a filibuster of the Senate version of health care reform. Olympia Snowe a Senator from Maine also will side with the Republicans against the bill. Unless a compromise can be reached soon the bill is effectively “dead” in the Senate! The result is that the bill is prevented from moving out of the Senate to be joined with a House version. Both Senators are citing the public option (government take over of 20% of the economy), as their reason for not backing the bill. This news is  a blow to democrats who want a government take over of 20% of the economy. We are for fixing the people who do not have coverage, but this bill according to the Congressional Budget Office  (CBO) will not cover enough of the uninsured, potentially cost trillions of dollars and millions of jobs.