These people (often) vote.
In fairness young people pick weekend beer over lots of things, not just Obamacare. But point made. Costs go up and up. More and more young, healthy people opt out. The sicker the Obamacare population is. And then eventually insurance singularity, implosion.
This is what is known as a death spiral in the insurance underwriting world.
Of course if the pols “get the regulation right” maybe the insurance companies that are pulling out now might come back,
No kidding. Either be on the crony side of things or just drop out of the middle class. This is America today.
Well no kidding. You mean increases in premiums of over 50% and massive tax bills for people who don’t buy the massively expensive plans with super high deductibles isn’t “affordable”? Well, I for one am shocked! How could this happen? Didn’t anybody see this coming?
(From CBS Minnesota)
Minnesota’s Democratic governor said Wednesday that the Affordable Care Act is “no longer affordable” for many, a stinging critique from a state leader who strongly embraced the law and proudly proclaimed health reform was working in Minnesota just a few years ago.
As we’ve said before Obamacare is a dysfunction generating machine. On all levels it’s rotten. This is what happens when the planners try to plan a vast swathe of the largest economy on earth. It is hubris. It is arrogance. It’s a disaster.
Remember, that the architect of Obamacare Johnathan Gruber (who was paid over $6 million for his “work”) said the only reason Obamacare passed was because the voting public was “stupid.”
Oh, America “understands” it.
Hey, the insurers have got to get paid and we’ve got to make sure Obamacare limps through the last few months of Obama’s administration. Between not getting to nominate a Supreme Court Justice, the recent veto override by Congress, the Iran payoff bit, the Comey pass for Clinton, and the racial strife Obama’s not going out well. If Obamacare finally and truly died that’d just be icing on the legacy cake.
We have long asserted this. Obamacare is/was good for the insurance companies, the pharmaceutical companies, the drug stores, all sorts of large vested interests. The lobbyists for these interests wrote large pieces of the legislation.
Obamacare is a vehicle for cronyism. That is its nature. That is what makes Obamacare Obamacare.
Wonder why a large part of the population is spitting mad? This is a big part of it.
Yet another indictment of Keynesian Kult nonsense. Had we let the markets clear post 2008, the stock market, the housing market, other markets, we would have had robust and real growth in relatively short order. People would have been able to build on honest to goodness, market for-realsies growth. But markets must clear for the economy to heal itself.
This one isn’t an uplifter but it is a sober assessment which deserves attention. Sobriety is a valuable thing, especially when dodging icebergs.
Reality is a funny thing. Good wishes and even piles of money can’t hold it back forever. This is a good general rule for just about every government program.
Socialism has a half life. Once honest to goodness socialism is instituted it is only a matter of time before the system implodes on itself. The primary factor in the speed of collapse is the amount of fat within an economy before massive state intervention and redistributionist policies. If the disease of socialism, hard core socialism, think the USSR, Cuba, North Korea, and even places like Venezuela, really takes hold, if the state assumes pretty much every aspect of the economy,
This is good to see from TIME. We’ve (along with others) made this point for years and it is such a waste. We subsidize unhealthy food, which benefits Big Ag – mostly corporate farming, which is then disseminated into the grocery buying public which is often subsidized through various means including food stamps, then when people get diabetes (and other diseases) after a lifetime of eating subsidized unhealthy food we subsidize their healthcare and disability payments. It’s a multilayered bologna sandwich of public policy dysfunction.
There is a whole group of folks in Washington and to a lesser extent outposts afield, and it is mostly Dems, who think that just because they hold “enlightened” attitudes about business that means they can engage in whatever cronyism they want. (Republicans do crony capitalism in slightly different ways and with less affectation in my experience than Democrats, though they are plenty prone just to be clear.)The Great Green Rush (of your tax dollars) during the beginning of Obama’s presidency is a good example of this.
This is a big problem people. Businesses are increasingly getting addicted to the government extracted money which comes from you and me. (And from our children and their children’s children.) Good to see even the folks at Harvard getting hip to this. Now if we could just reduce the key to crony capitalism, the thing which insulates these businesses from competition and which costs consumers billions, crony government. (And really there is no other kind.)