Republican leaders are vowing to repeal President Obama’s signature healthcare law and extend Bush administration tax cuts for the wealthiest Americans in the wake of their gains in the midterm elections. One day after winning control of the House and reducing the Democrats’ Senate majority, House Republican Leader John Boehner said the healthcare bill threatens to bankrupt the United States.

Rep. John Boehner: “I believe that the healthcare bill that was enacted by the current Congress will kill jobs in America, ruin the best healthcare system in the world, and bankrupt our country. That means that we have to do everything we can to try to repeal this bill and replace it with commonsense reforms that will bring down the cost of health insurance.”