Obama to announce major initiative to reform health care and reduce costs

May 11th, 2009 - 9:12 am ICT by admin  

Obama Washington, D.C. (BNO NEWS) – President Obama on Monday will announce a major initiative on reforming the national health care system in order to reduce costs, the White House said on Sunday.

Groups in the health care industry have pledged to make savings which are equal to about 1.5 percent a year over the next ten years. “We cannot continue down the same dangerous road we’ve been traveling for so many years, with costs that are out of control, because reform is not a luxury that can be postponed, but a necessity that cannot wait,” Obama said in his prepared remarks for Monday.

Costs are said to be Obama’s biggest obstacle to his plan to provide health insurance for every American. “It is a recognition that the fictional television couple, Harry and Louise, who became the iconic faces of those who opposed health care reform in the 90s, desperately need health care reform in 2009. And so does America,” Obama will say.

The savings over the next ten years would save more than two trillion dollars. “That is why these groups are voluntarily coming together to make an unprecedented commitment. Over the next ten years - from 2010 to 2019 - they are pledging to cut the growth rate of national health care spending by 1.5 percentage points each year - an amount that’s equal to over $2 trillion,” the president said in his prepared remarks.

President Obama will make the announcement at 12.30 p.m. EDT from the White House.

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