Watcher Council Submissions March 29, 2010

I’m working hard to pay the rent
And support my government

Blood from a StoneThe Hooters


I was appalled when the President demanded the resignation of GM CEO, Rick Wagoner. I didn’t know anything about his performance but as Larry Kudlow put it:

Remember, as bad as Wagoner’s performance has been over the years, it was the federal government — not shareholders or the board of directors — that threw him under the bus. (By the way, GM’s board is being thrown under that same bus.) And I’m not arguing in favor of Wagoner or his board; they’ve made a zillion mistakes. But I am wondering if we’ve officially entered a new era of government-controlled business.

The other day I received an e-mail from my Senator, Ben Cardin. In the e-mail was a list of all of the benefits we’ll receive as a result of ObamaCare. It was as if the administration and its Congressional allies had sprinkled pixie dust on us repealed the laws of economics and fixed our “broken” healthcare system. The breathtaking arrogance behind the legislation is aptly illustrated by Doug Ross.

In the real world though, I looked at the list and wondered: how will we pay for it all? A number of provisions clearly will raise insurance rates. And then there was the last one, which was something – Wolf Howling brought up in his submission last week – than insurance companies must pay out 85% of their premiums in claims. Does anyone who wrote and voted for this bill know anything about how the insurance industry works? Or is the point to force private insurers into insolvency leaving us with the insurer of last resort – the government – to provide our health insurance?

It sure looks like Kudlow had a point.

Council Submissions

Non Council Submissions