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Hospital stocks fall after Republican health bill seen leaving 24 million uninsured

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Shares of hospital stocks were sharply lower in early trading on Tuesday after the U.S. Congressional Budget Office forecast that 14 million Americans would lose medical insurance by next year under a Republican plan to dismantle Obamacare.

Shares of HCA Holdings fell 1.8 percent, Tenet Healthcare fell 4.6 percent, Community Health Systems was down 2.8 percent and LifePoint Health was down 1.9 percent.

The S&P 500 healthcare sector was off 0.16 percent.

“While the CBO’s estimate… is a negative headline for hospitals, we believe that in its current form, the bill’s chances of passing are slim,” Jefferies analyst Brian Tanquilut said in a research note.

Tanquilut said he believed legislators “will eventually draft a more palatable, diluted version of ‘repeal and replace’ that would have a smaller impact on the number of uninsured.”

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The Affordable Care Act of 2010 expanded medical coverage, aiding hospitals by reducing the number of uninsured patients who could not pay bills. Hospital stocks sold off after the Nov. 8 presidential election of Donald Trump, who vowed to repeal former President Barack Obama’s signature domestic policy legislation.

The CBO forecast that 24 million people would be uninsured in 2026 if the plan being considered by the House of Representatives were adopted. Some health policy experts and Wall Street analysts said the report was more draconian than expected, with the uninsured rate declining more quickly than foreseen.

Health insurer stocks also fell, though their moves were less steep.

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UnitedHealth Group Inc was down 0.2 percent, Aetna Inc down 0.5 percent and Humana Inc down 0.1 percent.

(Reporting by Megan Davies; Editing by Dan Grebler)


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Trump’s racism is ‘disqualifying’ for him to remain as president: former White House lawyer

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Former acting Solicitor General Neal Katyal explained on MSNBC on Thursday why he viewed President Donald Trump's racist attacks on four women of color in Congress as disqualifying.

Anchor Brian Williams read a quote from Susan Glasser of The New Yorker.

"Half of the country is appalled but not really sure how to combat him; the other half is cheering, or at least averting its gaze. This is what a political civil war looks like, with words, for now, as weapons," Glasser wrote.

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Lawrence O’Donnell reports on the growing movement for the impeachment of President Donald Trump

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Anchor Lawrence O'Donnell reported on the growing movement for the impeachment of President Donald Trump during Thursday evening's "The Last Word" on MSNBC.

"The House of Representatives conducted a symbolic vote on a hastily written impeachment resolution by Democratic Congressman Al Green in reaction to the president’s tweeted comments that the House of Representatives voted to condemn as racist," O'Donnell reported. "The impeachment resolution had nothing to do with the [Robert] Mueller investigation and referred only to the president being unfit for office because of the language that he has used recently about members of Congress and immigrants and asylum seekers."

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Video proves how far the Trump’s GOP has gone from the era of Ronald Reagan and HW Bush

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The immigration policies of Donald Trump’s presidency would have no room for his GOP predecessors Ronald Reagan or George H.W. Bush—who both embraced work visas, family unification, easy border crossings and a better relationship with Mexico.

That counterpoint can be seen in a very short video clip from the 1980 presidential election where Reagan and Bush—who became Reagan’s vice president for two terms before winning the presidency in 1988—were asked about immigration at a campaign debate in Texas. Their responses show just how far to the right the Republican Party’s current leader, President Trump, and voters who have not left the GOP to become self-described political independents, have moved on immigration.

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