Ever since the sham financial reform known as Dodd-Frank, a law designed by Democrats and signed by Barack Obama in 2009 (before the Tea Party even existed as a political movement), I have known that Barack Obama is a corporate elitist who would reward greedy Wall Street firms rather than bring good governance and needed fixes to the American financial system.
And then came Obamacare, the great gift to private insurance companies, at least for now.
If you are a Liberal, please read this simple paragraph closely to see exactly what is being discussed here:
Does the exasperation and frustration of health insurers mean that they could face financial troubles in the days ahead? Probably not.
Those reinsurance and risk corridor payments from the federal government provide a safety net for the first three years. Insurers might lose money on their individual insurance products, but the losses won’t be catastrophic thanks to Obamacare’s cushion.
Humana (NYSE: HUM), for instance, stated that it expects to lose money on its Obamacare plans and receive between $250 million and $450 million to offset those losses. Still, the big insurer stuck by its 2014 earnings outlook of $7.25 to $7.75 per share, which means at least $1.1 billion in profits. That’s not a figure likely to cause despair. <source>
So with Obamacare, mr. Obama has accomplished an amazing array of money-redistribution, all based on an inter-locking series of carefully phased rollouts designed to obscure the disastrous end game he has planned for all of us (other than the super-rich):
- Private insurance companies have been ordered, by law, to provide government-designed health insurance coverage to all enrollees, including prenatal care for men, for example, even though men do not get pregnant; This has given insurance companies a license to raise premiums through the roof on the average American family, and they have been doing so at a rapid pace — it happened to my family, and to many people I know, and the news stories of skyrocketing premiums are everywhere;
- At the same time, these skyrocketing premiums will STILL NOT BE ENOUGH for the insurance companies to keep pace financially;
- And so Obamacare buys off the insurance companies by sending TAX PAYER dollars to them in the form of “reinsurance” and “risk corridor payments” (Orwellian, no?), at least for the first three years, after which….
- Insurance companies will either (a) run out of government subsidies and go bankrupt as health claims of insured populations crush them (a byproduct of Obamacare’s adverse selection in which the old and sick sign up, while the young and healthy do not), or (b) the federal government will extend the subsidies, at tax payer expense, and solidify a permanent state of dependency by private companies on the central power
Pretty good work by our Marxist / Statist / Fascist president: an entire private industry is hobbled and then propped up by subsidies from the central power, only to eventually collapse outright or become a slave to the state.
And at the same time, the American consumer of health care gets a worse product, with higher premiums, higher deductibles, fewer choices, and longer wait times for procedures.
Once again, a Liberal fantasy of Utopia will result in its exact opposite: hell on earth.
Which would be bad enough if we didn’t also have to listen to Liberals congratulating themselves on their good works. Is there a special circle of hell for the willfully blind who wreak havoc and foment misery and destruction while deluding themselves that they are “good people who care”?
Yes there is, except that Liberals drag us to that place along with them, and this is a multi-layered moral crime of infinite proportion.