Indeed Obamacare is a massive, colossal vehicle for crony capitalism. We have maintained this from the very beginning of the program. It is full of sweetheart deals, exceptions for politically powerful groups, and most importantly nice fat revenue streams to the health care monolith. It should always be remembered that pharma and the insurance industry wrote big parts of Obamacare. It’s how the Dems bought off industry to squeeze in a highly partisan, hyper-partisan, piece of legislation.
(From The Wall Street Journal)
Beyond the legal battle, all this nonsense highlights a startling disconnect between corporate America, in this case the health-insurance industry, and the American people. What these shameless insurers fail to understand is that the bailout promise made to them in 2010 by President Obama, Harry Reid and Nancy Pelosi has been effectively voided by the democratic process and subsequent actions taken by Congress—and yes, signed into law by the same president.
Health insurers can hire all the high-paid trial lawyers they want, but they will run into a constitutional buzz saw: America’s founding document grants Congress the power of the purse, thereby allowing the people, through their elected representatives, to put their money behind what they decide the nation’s priorities should be.
Health-insurance companies need to wake up to the reality that this is not their money, and they are not entitled to it. This money they are fighting for, and that the Obama administration is trying to weasel a way to somehow give them, belongs to taxpayers. Taxpayers get to decide—through me and others in Congress—whether to bail them out. And the people have spoken: No, we will not bail out health insurance companies for ObamaCare’s failures.