Political Quotes

On the recordFebruary 11, 2010
I do wish to comment about the health care debate. One Republican Senator said during this debate what we need is to ``get out of the way and allow the market to work.'' Well, we had an example of it working pretty well for the insurance industry a couple days ago. In fact, a large insurance company in California, insuring almost 1 million people, individuals, decided they would raise their rates this year 39 percent--1 year. I think it is fair to say it is a little above inflation. Well, when someone talks about get out of the way and let the market work, they are talking about doing nothing. That is what it means. ``Allowing the market to work'' is a code word for letting greedy insurance companies--companies that care more about profits than people--get richer while people who can already barely afford their coverage lose their coverage altogether. Cover this with the fact that these insurance companies--and this insurance company--are not subject to any antitrust laws.
Said by
Harry Reid
Democratic · Nevada
Source
govinfo.gov
Feb 11, 2010

Editor's note · Context

The speaker addresses the impact of insurance companies raising rates and the implications of market deregulation.

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