[Congressional Record (Bound Edition), Volume 154 (2008), Part 16]
[House]
[Page 21781]
[From the U.S. Government Publishing Office, www.gpo.gov]




    McCAIN DEREGULATION AGENDA WOULD BE DISASTROUS FOR MIDDLE CLASS 
                               AMERICANS

  (Mr. PAYNE asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. PAYNE. Madam Speaker, as Americans everywhere are feeling the 
effect of President Bush's failed economic policies, Senator John 
McCain has once again demonstrated that if he wins in November, he will 
not only continue those same failed policies, but he will expand them 
to the health care industry.
  Just last month, Senator McCain, in an opinion that he wrote, said 
that the health insurance market should be run more like the banking 
industry has been during the last decade. Can you imagine that?
  As you can imagine, this would be a disaster for American families. 
By creating a deregulated national marketplace, health insurance 
companies could sell plans that lack even the most basic consumer 
protections, creating high out-of-pocket expenses and allowing 
insurance companies to break promises to pay medical bills.
  The latest financial meltdown on Wall Street highlights the need for 
a government to regulate big business. We need a referee on the field. 
Not only does Senator McCain disagree with that belief, but he wants to 
take the referee out of health care, leaving all Americans to fend for 
themselves.
  That's not a change the American people can believe in.

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