As co-authors of Why ObamaCare Is Wrong for America,we strongly recommend that the Affordable Care Act of 2010 should be repealed and replaced as soon as possible.

Repealing the Patient Protection and Affordable Care Act will not be enough, for a simple reason: Although Obamacare would worsen many of the problems with our system of health-care financing, that system clearly does call out for serious reform.

A "money only" debate about Medicaid would be an exercise in futility and--more tragically--would trap the most vulnerable people in our society in a hopelessly broken system.

State bankruptcy must serve to break the stranglehold of public-sector unions over state politics and budgets; help restore the federal government's precommitment against bailing out states; and advance, rather than distract from, the far more fundamental federalism reforms that will be required over the coming years.

Luncheon address delivered at The Transatlantic Law Forum's Fifth Annual Conference. Delivered at Bucerius Law School in Hamburg, Germany.

The new House majority-in which it is my privilege to serve as Chairman of the Budget Committee-has decided to do things differently. We have decided to offer America the choice they deserve.

The states' fiscal crisis is structural, not cyclical. Real recovery and reform will require drastic changes to our federal architecture.

The problem of covering Americans with preexisting conditions is certainly real, but the notion that the only way to solve it is through a massive transformation of America's healthcare system is simply wrong.