Yet because of the new insurance price control mechanism, the private insurance system will not be allowed to recoup the costs of such coverage.This is a balloon which must burst, and it will several years down the road.
The result of the burst will be a collapse of the private insurance sector, and a government unable to pick up the pieces without severely rationed care (even if coverage remains expansive in theory, the care will not be available).
Obama's plan (and so too the House and Senate versions) is the worst of all worlds. It is a replica of the housing bubble, thrill for the first few years, and then the bill becomes due without any way to pay for it.
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