Tuesday, November 5, 2013

The Coming Bailout of Obamacare

"Houston, we have a problem."

Peter Ferrara, the author of this disturbing analysis in The American Spectator, is an expert on the long-term problems of Social Security and other government welfare programs. His conclusion about the coming death spiral of Obamacare:
The pool the insurers end up covering, then, will be a lot more like the pool of all burnt down houses for fire insurers discussed above. The premiums the insurers receive from this adversely shrunken pool will not remotely cover the costs of that pool. Hence they will be facing bankruptcy next year, absent another taxpayer bailout of hundreds of billions. So the choice will be that, or socialized medicine, including the government death panels we see in every other country weighed down by this “enlightened” last century albatross.
There's really not much more that can be said. First the socialists wreck the healthcare insurance industry, then they cast the blame elsewhere, clamor for a taxpayer bailout to fix the mess they've created, and then use that bailout (à la GM) to put the entire system into the government's hands.

4 comments:

  1. The perfect storm will come if only those who foresee a need to go to a hospital or physician next year sign up. Health insurance as a business only works if they are able to enroll a large pool of healthy non-users. The only incentive right now is a small tax penalty. Look for that to become a mandatory withholding from your paycheck just like Medicare money is taken from your paycheck. Once that withholding is in place the Govt. can raise it as it deems necessary and as high as the people can stand, all in the name of healthcare for all.

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    1. Heroin, cocaine, prescriptions drugs, and all nature of self-destructive addictive things.

      Sung to the melody of "Trains, and planes, and cars and things"

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  2. “No one in this world, so far as I know — and I have searched the records for years, and employed agents to help me — has ever lost money by underestimating the intelligence of the great masses of the plain people. Nor has anyone ever lost public office thereby.” - H.L. Mencken

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    1. Sad, but when one listens to the inarticulate nature of discourse and the inability to put down in writing coherent thought and understandable information....it brings one almost to tears. We listen to quite a bit of overnight radio....and it makes a person wonder where we fell off the track. We have an entire subset of the English language that requires the formation of sentences and paragraphs to be composed of trite phrases, designed for focus groups. The more senseless the phrases are, the more they are thought to be attributable to the Lost Mosaic Tablets, especially by the low-information American voter.

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