â??When the righteous are in authority, the people rejoice: but when the wicked beareth rule, the people mourn.â?ť
— Proverbs 29:2
Over 2,000 wealthy investors and concerned citizens are meeting here at the Paris Resort in Las Vegas for FreedomFest. A major issue here is why Republicans have failed to pass the legislation they were elected to do — repeal and replace ObamaCare, reform an overloaded bureaucracy and cut taxes.
They have control of the White House and Capitol Hill, so whatâ??s stopping them? Investors have been expecting health care and tax reform since the Nov. 8 election.
Back in 2009-2010, the Democrats faced a similar situation. The Democrats controlled both houses and Obama was president. They had razor-thin majorities, yet they were able to push through two expensive pieces of legislation: The Affordable Care Act (which was anything but affordable) and the Dodd-Frank Wall Street Reform and Consumer Protection Act (which simply raised prices and reduced choice — not a single community bank has been created since 2010).