When Governor Culver and the Democrats made it illegal to smoke in public places, including bars and restaurants, small business owners went nuts over the fact that our government could step in and tell them how to run their business. In that case, they could sell cigarettes to their clientele, but they just couldn’t smoke them inside.
If they were upset over that, I’d love to hear what they have to say about Obama’s speech last night.
In one breath, President Obama said that government wouldn’t take over the insurance industry, but in another breath he listed a slew of new mandates that would force them out of business.
Obama said that he supports the following mandates on insurance companies:
They cannot deny you coverage because of a pre-existing condition.
They cannot drop your coverage for any reason.
They can no long place a cap on the amount of coverage you can receive in a given year or a lifetime.
Government will set a limit in how much they can charge for out-of-pocket expenses.
Government will force them to cover routine checkups and preventive care.
Now everyone hates the big bad insurance companies, but what if we applied Obama’s principles to banks?
The bank can’t deny you a loan even if you have terrible credit.
The bank can never foreclose or reprocess your home or car even if you don’t make your payments.
Government will set a limit on how much interest the bank can charge on all loans.
Government will force banks to refinance all loans if it’s in the best interest of the borrower.
I think you get the picture.
Obama’s mandates on insurance companies will make it impossible for them to remain profitable. They will no longer be able to limit their risk by denying coverage to high risk individuals. It’s one thing when the government mandates that you can’t turn people down. I’m OK with that to an extent, but when you also mandate what they can charge, it makes it impossible for them to turn a profit. Obama’s new vision of America leaves capitalism out in the cold.
I think Obama and the Democrats know exactly what they are doing. Obama’s stated that the public option would only cover 5% of Americans, that’s ludicrous. Obama’s end-run will crush private insurance companies and force them out of business, and if there isn’t any private insurance companies left, everyone will be forced to go with his public option.
Obama didn’t make things better last night, he made them worse. Look at what he has done in this county is just 9 months. What will it look like in 3 more years?
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