He changes the insurance industry and now wants a taxpayer bailout! How Pathetic!
In an embarrassing admission that insurance companies cannot survive insuring against risks that have already happened, the newly released 2015 Obama budget includes a provision to establish a $5.5 billion government-controlled fund to bailout insurance companies because of Obamacare.
This was easily predictable using the old adages “money doesn’t grow on trees” and “there’s no such thing as a free lunch. Think about it.
Insurance, by its very definition, is the pooling of money and transferring the “possibility” of a financial risk to a larger entity, an insurance company that, using these pooled assets can then spread out that potential risk (the bad thing that may happen). Insurance companies cannot insure against a risk that has already happened, because it’s no longer a risk that can be insured against. It’s already happened. Insurance is not about “health care,” but is about insuring against a possible financial loss caused by a unpredictable bad event occurring.
Applying the Obamacare logic to other types of insurance sounds ridiculous and moronic. What if Obama, Reid, Pelosi and the rest of the progressive communists in the Democrat Party ran other types of insurance in society? We’d have insurance companies that provide homeowners insurance being force to pay claims to policyholders who purchased coverage after the house burns down. Drivers could wait to buy car insurance until after the car was totalled. Why? Because in both cases, using the illogic of Obamacare, the catastrophic events would be considered “pre-existing conditions.” Long-term care insurance companies would be required to cover people who are already paying thousands of dollars per month for full-blown nursing home costs.
What? You don’t think that these pre-existing conditions shouldn’t be covered in these other scenarios? You must have no heart, no soul! What kind of monster are you, anyway?
But it’s much worse. Suppose that “Obamacare car insurance” required that oil changes be covered, new paint jobs, new tires every 10,000 miles (after all, “it’s for your safety), and free rock chip repair. What if a politician told you that you could get all of this new coverage and that your insurance costs would actually go down? What would you call any person who told you such nonsense (hint: liar)?
Yet, that is what the imbecilic, yet tyrannical scheme that is the Affordable Care Act, affectionately forever referred to as Obamacare, should forever be a reminder to Americans as what happens when morons control both houses of Congress and the presidency.
The bailouts were never part of the sales pitch Obama and virtually every other Democrat peddled to us. The bailouts are an admission upfront of Obamacare’s failure. Now that we know this, there is only one logical solution. It should be repealed fully and the federal government should get out of the healthcare business.
http://www.tpnn.com/2014/03/05/utterly-predictable-obamas-budget-includes-5-5-billion-obamacare-insurance-company-bailouts/
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