dr. murphy. hold on. i'm totally impartial.that was impartial hug. >> everything is greater from this point. >> well done, thank you very much. we are going to hear from defendant robert kuttner. order, i will have you thrown out of here so fast it'll make your head spin like exorcist. sorry. >> ladies and gentlemen of the jury, i am not here to argue that everything that the federal reserve is sound policy, only that we are much better off with a central bank than without it. to demonstrate why, let me take you back to the 19th century. a period where we had no central bank, only the gold standard and the money supply dictated by the actions of gold discoveries. gold determined the availability of credit and this was a period when hard money was scarce, banks issued notes of reliability and call in loans just when farmers needed. the quantity and cost of credit for no relationship to the economy's needs as roger recounts in new book, america's bank, the economy isolated between credit booms and credit busts. panics broke out e

dr. murphy's question. you were talking about the enrollment. what was the projected enrollment? >> i would have to research the number but i believe it was probably close to the 12,000-15,000 range for the first year growing among the 20,000 range 2015. >> their projection was 12,000-15,000 people and what they got was about 1000. >> that is correct. >> thank you very much. >> let me just get my questions out here. established co-op to do a number of things the private market have not done and specifically created to compete with large for-profit insurance companies and hopefully put downward pressure on premium prices and serve part of the country with fewer insurance options. remind us of what the landscape looked like prior to the involvement of co-ops. >> in montana, the uninsured rate went up 20%. with the introduction of the co-op, the difference in average premiums between montana and wyoming went from a tin of being 13% lower to being 20% lower. we now have an uninsured rate is closer to 11% or 12%. many thousands of people are now covered who didn't used to have insuran

dr. murphy's question. you were talking about the enrollment. what was the projected enrollment? >> i would have to research the number but i believe it was probably close to the 12,000-15,000 range for the first year growing among the 20,000 range 2015. >> their projection was 12,000-15,000 people and what they got was about 1000. >> that is correct. >> thank you very much. >> let me just get my questions out here. established co-op to do a number of things the private market have not done and specifically created to compete with large for-profit insurance companies and hopefully put downward pressure on premium prices and serve part of the country with fewer insurance options. remind us of what the landscape looked like prior to the involvement of co-ops. >> in montana, the uninsured rate went up 20%. with the introduction of the co-op, the difference in average premiums between montana and wyoming went from a tin of being 13% lower to being 20% lower. we now have an uninsured rate is closer to 11% or 12%. many thousands of people are now covered who didn't used to have insuran

dr. murphy's questions. you were talking about the enrollment, and it didn't hit a thousand. what was the projected enrollment from the co-op and what did cms project that enrollment to be for 2016? >> i would have to research the number. i do believe it was probably close to the 12 to 15,000 enrollee range for the first year, growing to something along the 20,000 enrollee range for 2014. >> their projection was 12 to 15,000 people and what they actually got was about a thousand? so they were that far off their mark? >> yes. >> okay. >> that's correct. >> thank you very much for that. mr. chairman, i will yield back the 30 seconds of my time. >> there you go. thank you. i now recognize mr. pallone, if he's ready, for five minutes. >> let me just get my questions out here, mr. chairman. if i can find them. congress established co-ops to do a number of things that the private market had not done, and specifically co-ops were created to compete with large for-profit insurance companies and hopefully put downward pressure on premium prices and serve parts of the country that had

dr. murphy.the amazing care he provided for his community ensures he will always be loved and remembered in north florida. thank you, mr. speaker, i yield back the balance of my time. the speaker pro tempore: for what purpose does the gentleman rom arkansas seek recognition? without objection the gentleman from arkansas is recognized for one minute. >> i rise today to honor one of arkansas' finest home son, dr. milton pitts crenshaw who passed away on november 17, 2015, at the age of 96. born in little rock, dr. crenshaw became known as the father of black aviation in arkansas. he was one of the original supervising squadron commanders providing training, instruction under the civilian pilot training program for the tuskegee airmen in world war ii. mr. hill: he served his country for more than 40 years of federal service with the u.s. army air corps and the u.s. air force. laettner life, dr. crenshaw's advocacy on the part of veterans and his fellow tuskegee airmen was relentless. in 2007, dr. cr

murphy: dr. burgess? representative burgess: i think it's important we are having this hearing today. there is a lot of policy in the affordable care act and a lot of it was bad policy. the co-op program is no exception it has wasted millions of dollars it has suffered from a lack of oversight is greeted instability for millions of patients. the model was fundamentally unsound from the start and another example of the administration's desire to construct dangerous instruments with our nation's health care. let us not forget the ultimate patient protection is the assurance that their insurance carrier will not simply evaporate in the night. leading patients without the coverage in which they rely. are shut down,s accounting for $1 billion in taxpayer dollars lost. the rate of failure continues to accelerate. in fact the subcommittee staff struggled to finalize materials for this hearing because co-ops were failing and announcing failures faster they can finalize the memoranda. we will hear from witnesses t

dr. colen, chief of staff. >> good afternoon and thank you for inviting to inviting me chairman murphy, who i know has gone and other members of the subcommittee, we appreciate the opportunity to talk about the co-op program. cms takes taxpayers very seriously, our priority is to make sure they have affordable coverage. in the years before affordable care act we have seen increase in exerttion and more choices for consumers, consumers can choose from five issuers from 2016 coverage. nine out of ten will have three or more to choose from. co-ops entered in the insurance market with a number of challenges including building provide e network and no previous claims experience in which to base pricing as well as uncertainties that the early years of new market, as with any new business ventures some have succeeded while others have encountered more challenges. there have been successful co-ops of health insurance and has improved exerttion. there have also been co-op for a number of reasons and have faced technical or operational and financial difficulties, congress had made substantial rescissions, initial $6 bil

murphy. first the stop stories. we are awaiting breaking news the campaign trail. moments from now polling will release latest national survey of the republican presidential primary, we drmeanwhile sharping his attack on carson. watch this. >> dr. carson is lower energy than jeb bush. and i like him a lot but he's not for dealing, he's not for making deals. >> maria: and it was election day yesterday. ohio voters rejecting measure to legalize marijuana, houston voters rejecting equal rights protections of members to have lgbt community and san francisco denying to restrict rentals. voting out their sheriff after the controversy, 32-year-old was reported five times previously. in tea party, taking the governor's mansion. >> this is your kentucky, this is our opportunity. we will seek the future together but we will do it as one kentucky. republican and democrat alike. >> maria: meanwhile history will be made in asia. president of china and leader of taiwan to meet for the first time since the communist revolution of 1949. the meeting will be hosted by singapur, developing relationships across the taiwan. market expected to open in 20 points. it is early and we are antici

dr. cohen? >> good afternoon and thank you for inviting me here chairman murphy who i know has gone but mr. collins, ranking member degette and other members of the subcommittee, we appreciate the opportunity to talk about the co-op program. cms takes its commitment to co-op consumers and taxpayers very seriously. our priority is to make sure consumers have access to quality affordable coverage. in the years since the passage of the affordable care act we've seen an increase in competition and more choices for consumers. consumers can choose from on average 50 plans and five issuers for 2016 coverage. nearly nine out of ten returning consumers will have three or more insurer to choose from which research shows has intensified price competition in the market. new entrants to any market, especially insurance market, can face pressures, particularly in early stages. co-ops entered the insurance market with a number of challenges, including building a provider network, no previous claims experience on which to base pricing and competition from larger more experienced issuers as well as the unce

. >> david murphy here with an update from accuweather hope thanksgiving was nice and black fridaying starting out okay drchilly, chance of fog south of philadelphia. in the city it appears to be clearing out nicely. here comes the sun. your exclusive accuweather 7-day a beautiful afternoon. clouds mixing with sun. high of 66. light winds. tomorrow, cloudsy and damp with afternoon sprinkles and showers here or there and maybe a few more in the evening. hopefully dry for temple football a high of 60, cooler hopefully dry for temple football a high of 60, cooler sunday. minutes. back over to you. >> you can go back around the corner now. we love you. >> see you later. >> we have so much more ahead. beware of black friday hackers. how to spot a cyberthreat that might steal your personal data. >>> mystery in the paternity ward. a mom who thought her baby was gone after a hospital nightmare. the remarkable reunion. i sure had a lot on my mind when i got out of the hospital after a dvt blood clot. what about my family? my li'l buddy? and what if this happened again? i was given warfarin in the hospital but i wo

murphy authorize columnist monica crowley, first top stories 8:00 a.m. east coast quinnipiac polling out with latest, national survey of 2016 presidential race contend%, drd trump, atop the republican field, carson opening a 10-point lead on hillary clinton in a possible head-to-head match, donald trump sharpening attacks on carson. >> dr. carson is lower energy than jeb bush, i like him a lot but he is not for dealing, he is not for making deals. maria: election day yesterday across country major ballot mists in governor's races ohio voters rejected a measure to legalize marijuana, san francisco voters, danned ballotot measure to restrict airbnb rottenals residents voting out their sheriff after the controversy earlier this year 32-year-old kate murder by illegal immigrant in san franciscan. >> kentucky tea party favorite took dpz mansion. >> this is your kentucky this is our opportunity we will seek the future together we will do it as one kentucky, republican and democrat alike. maria: turning to markets this morning, futures indicating a higher opening for the broader averages on wall street you do you do expected to open up facebook re after the clo