Is DC Turning Libertarian on Yellen, Obamacare?

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Feb. 11 (Bloomberg) -- Liz Ann Sonders, senior Vice President at Charles Schwab & Co., and Bloomberg View columnist Megan McArdle preview today’s first Capitol Hill testimony by Federal Reserve Chairman Janet Yellen and discuss the political tone surrounding Obamacare on Bloomberg Television’s “Bloomberg Surveillance.”

Losing.

We will talk about this in a bit.

I have never seen this coming you assisted resident bush the younger with the second administration.

Is it appropriate for an opposing party to show up with a second panel as a chairman goes for the first time to capitol hill?

We will see today.

I think it would be a little more daunting if it were not yell and.

-- yellen.

She is well-versed in the policy.

The key will be to see if she can adopt both the art that bernanke had.

Saying what she wants to say without causing markets to react.

These are qualified people coming to this panel today.

No question about it.

In some cases, they have been big fed critics.

Criticizing what the fed has done for the past five years is nothing terribly new.

I think janet yellen probably has a pretty good method for answering.

Having a wide range of opinions is good.

Does it help anchor market expectations of the base fed outlook at a time with such volatility?

I think expectations are fairly anchored.

One of the things that is interesting is that there has been a lot of consternation about going to $65 billion.

If the fed had said 65 billion instead of $85 billion, we would probably be in a different situation.

The treasury is issuing fewer treasuries.

On a percentage, what the fed is buying now, is in line.

Terrific work over the years as an economist.

I have to be careful here -- a libertarian bent.

When you look at a certain texas attitude on economics, is this libertarian economics run amok?

As far as i'm concerned, there is no such thing as libertarianism run a month.

-- amok.

We are in a bit of libertarian moment in politics because we have obamacare, where this is the great hope of democrats and it keeps getting delayed and changed, and the government is looking less competent than people thought it was two years ago.

The economy is still soft.

Four years ago, the conversation was about, this is 1932. know the conversation is, maybe this is the 1980's. does this guarantee that obamacare is a live issue again because of the midterm elections?

Absolutely.

It is definitely going to be a live issue.

I think we will see it again.

Republicans are gearing up.

They think they have a good shot at taking back the senate on this.

Is this profession ever going to go into effect?

They are only enforcing it on companies that 99% of them already give their employees of insurance.

Why is it that the government cannot get it right?

There are a bunch of things that happened.

The past the law -- passed the law with the big technology piece at the heart of it.

I would go to people and i would say, the sunsetted huge job.

Can we do this in three years?

I figured that they must have some experts who were telling them they could.

I look back and think, they just did not realize what they were getting into.

If there are no delaying the implementation, that is not an i.t. thing.

Did they bite off too much philosophically?

Politically?

The whole thing?

There were a bunch of core problems.

One of the big issues was that they did not want to touch anything that anyone already had.

They wanted to say, if you like your plan you can keep it.

They wanted to make it sound true.

They built this incredibly complex apparatus on topple what already existed.

-- top of what already existed.

I'm not sure if anyone really understood all of the moving parts and how they might fail.

I want to get the company news.

The photo of the day.

The president of france and the president of the united states.

What is so cool about this photo is the indian rugs or whatever they are, the deer skins,

This text has been automatically generated. It may not be 100% accurate.

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