Trump calls Obamacare a 'disaster'

President Donald Trump has said that Obamacare was a "disaster" and it's "failing miserably", as he plans to replace the affordable healthcare of his predecessor on account of significant increase in its insurance premium.

"Obamacare is a disaster. It's failing," Trump told reporters at a joint news conference with the visiting German Chancellor Angela Merkel. "Obamacare will fail.

It will fold. It will close up very, very soon if something isn't done," he said. One of his major electoral promise, Trump has initiated steps to replace and repeal the signature healthcare initiative of his predecessor Barack Obama.

"It's all coming together. We're going to have great healthcare," Trump said in response to a question. An alternative healthcare plan has been tabled in the US Congress, which he exuded confidence would be passed.

"It's going to be passed, I believe, I think substantially, pretty quickly. It's coming together beautifully. You have conservative groups, you have other groups. Everybody wants certain things. In the end, we're going to have a great healthcare plan," he said.

Only half of the State of Tennessee, where he addressed a public meeting this week half, is covered. "The insurance companies have left, and the other half has one insurance company and that will probably be bailing out pretty soon also. They’ll have nobody," he said, adding that there are many states where they have one.

Trump said the best thing he can do is absolutely nothing. "Wait one year and then even the Democrats will come say, please, please, you got to help us. But it's not the right thing to do for the people," he said.

"We have a great plan. We have a plan that's getting more and more popular with the Republican base, with the conservative base, and with people, generally. The press has covered it very inaccurately. People are truly covered well, and I think it's going to be something that's going to be a model to be looked upon," said the President.