Wilbur Ross: Obamacare Not For Wealthy, Another Shutdown Unlikely


Billionaire Wilbur Ross told CNBC he can’t see why healthy people would sign-up for health insurance under the president’s Affordable Care Act.

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Wilbur Ross video and transcript below


Wilbur Ross on Obamacare problems

FRI 18 OCT 13 | 07:49 AM ET

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how does obama care look, steve rattner? in a year, will it be?wilbur, how would you fix it? will it be fixed? there’s worries if they don’t get enough people, there’s a real problem if they don’t — well, there’s one problem if they don’t get enough people. the other problem is if they don’t get the right people.there’s a big assumption and namely that healthy young people will sign up. i think that’s a very doubtful assumption. i think the healthy young people are going to wait until they getsick, worry through the six months. yeah. that’s an elephant in a room, steve. he wants to protect us. that was part of this whole thing we went through. it’s a signature achievement.meanwhile, if the republicans hadn’t been, you know, suckingup all the news cycle, we may have been focusing more on how badly this has gone. we would have been, and there’s no question it has not gone as well as it should have. they built this complicated contraption in the garage with everybody weighing in. now they’re trying to figure out if they can drive down the street. obviously the computer systems are a problem. the point wilbur raises is a good question that we’re all going to be watching. but i think — it’s the sticker shock, which is what he’s speaking to. all that. no private company — no private company — no private company would ever roll out anationwide program all at once. the sensible way to roll out agigantic complicated program is do a test here, gradually expand it, get the bugs out and then do it.

Wilbur Ross, WL Ross & Co. chairman & CEO, explains why he does not expect to see “a lot of change” as the debt ceiling drama on Capitol Hill continues and lawmakers return to work on the budget.

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