The House of Representatives may have passed the Senate's health care bill Sunday evening, but there have been mixed reactions among politicians and industry leaders. Both shared their interpretation of what the bill will mean for the nation's future with CNBC Monday.
Health Care Bill Not Affordable
"It's going to radically, radically expand the size of the federal government...The biggest problem, as I see it in the out years here, we're not going to be able to afford it...Government spending as a percent of GDP will probably close in on 30 percent, historically it's been 20 percent and that creates a structural deficit, which is going to make it very difficult for us to get out of the situation we're heading towards, which is a fiscal meltdown relative to our ability to sale our debt, and people should be worried about that in my opinion."
— Sen. Judd Gregg (R-NJ)
'Brazenly Arrogant' or Change Americans Want?
"You know last night was a—you have to think about it and put it into perspective—a brazenly arrogant move by the majority party...Last, night the only thing that was bipartisan was the opposition to it. Republicans and Democrats stood on the floor and repeatedly said the bill was a bad bill...We're going to do everything humanly possible to try and scale this thing back going forward, we're in the minority right now, but we're going to try and engage in that fight."
— Rep. Scott Garrett (R-NJ)
"This is probably the most historic bill that we have had since the mid-60's and this bill is the change that the American people were asking for. This is what happened when Barack Obama was elected President, this is why they wanted Democrats in the majority and this is why we will remain in the majority in November. We're making that change so that 32 more million Americans will have access to health care."
— Rep. Gregory Meeks (D-NY)
Crowding Out Private Sector Growth
"Ultimately, as a company and as an industry, we think we will figure it out in the shorter term, the real concern to me is in the much longer term, in terms of the impact on the federal deficit, still all the unintended consequences of we think we may be signing up for a lot more spending than what is in there originally...The overall shift from a country that has been driven by private sector job growth, entrepreneurialism, a country that has created the Microsofts , the Googles , the Strykers , the other great companies, to one that is increasingly going to create a much larger public sector component and is going to crowd out private sector growth."
— Steve MacMillan, Stryker CEO
Higher Taxes or End to 'Horrible Practices'?
"What I think people need to understand is some aspects of this bill may be brought down by the courts, but for the most part the taxes of this bill, the huge amount of new taxes taking money out of investment in the private sector and putting it into this will remain...The one thing I understand is the taxes will stay, the benefits will cost more than they should and our economic engine of prosperity has been hurt by a bad decision."
— Rep. Darrell Issa (R-Calif.)
"The heated rhetoric that somehow this is a massive takeover of health care is simply false...The fact is, that the legislation here is going to start making a difference, in terms of eliminating the horrible practice of denying people coverage when people get sick, being able to have children insured despite pre-existing conditions, to have tax credits available for small businesses."
— Earl Blumenauer (D-Ore.)
Costs Will Continue to Rise
"My real concern with it...this bill fails from the cost standpoint, from the spending standpoint, there's really nothing in the bill from a market based standpoint, the only real way we're going to be able to control cost over time. There's nothing in this bill that is going to slow down the growth of cost...Eventually, we'll end up dumping more people to the uninsured."
— Sen. Bill Frist (R-Tenn.)