Chutzpah: Obama urges federal control of health insurance premiums: "Every single day of this man's presidency is focused on destroying individual liberty and capitalism. There is no absolutely no authority for the federal government to control insurance premiums. This is right out of the Politburo's handbook.
President Obama will propose on Monday giving the federal government new power to block excessive rate increases by health insurance companies, as he rolls out comprehensive legislation to revamp the nation?s health care system, White House officials said.
Keep in mind that this is effectively seizing control of the health insurance industry. After all, if you control the rates, you control the companies' bottom lines. If you control their bottom lines, then they are no longer acting in a competitive free market.
Any plan to control premiums will reduce the number and variety of plans available to Americans. Some companies will refuse to write policies because they can't make a sufficient profit. This, of course (and by design), would allow the federal government to step in and fill the gap where the greedy, evil insurance companies 'bailed out' on their poor insureds."
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