Forbes to Newsmax: Obama in a 'Bubble' As US 'Crumbles' Under Obamacare

Forbes magazine editor and former presidential candidate Steve Forbes tells Newsmax that Obamacare is "ridiculous and destructive" and is imploding because it wasn't workable in the first place.

But President Obama is in a "bubble" regarding the healthcare reform bill while the "rest of the country crumbles," Forbes asserts.

He also says the immigration reform bill passed in the Senate won't fly in the House, and he favors a piecemeal approach instead.

Forbes is president and CEO of Forbes Inc. He ran for the Republican presidential nomination in 1996 and 2000, urging the adoption of a flat income tax with a single tax rate.


His latest book is "Freedom Manifesto: Why Free Markets Are Moral and Big Government Isn't."

The White House clearly sees the negative impact Obamacare's employer mandate would have had on the economy and that is why it is being delayed. But some employers are still saying they want to hold back on hiring and maybe cut back on hours.

In an exclusive interview with Newsmax TV on Monday, Forbes offers his take on the healthcare bill.

"In terms of implementation, Obamacare is imploding because it's unworkable in the first place — the idea that people with spreadsheets in Washington can run 20 percent of the economy," he declares.

"Bad ideas or destructive ideas die a very hard death. So they still have this illusion in healthcare. It's going to get worse, it's not going to get better. They're doing real harm to the medical device industry, which has been critical for improvements in the standard of healthcare in this country.

"They are hoping that maybe putting implementation off a year on the employer mandate would somehow get businesses to hire. In the real world if you think something is going to hit you hard a year from now or a month from now, you're not going to hire when you see bad things coming down the road. So it has distorted patterns in terms of hiring, which is why in these jobs reports you see more part-time jobs being created than full-time jobs. It's ridiculous and destructive."

According to an article from Forbes.com, the IRS employees union is very concerned about having to join the Obamacare healthcare insurance exchanges — and that is the agency in charge of running Obamacare.
Via: Newsmax

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