Take a look at this report from the LA Times. You would figure that Obama's anti-insurance talks will have tempered their earnings. You'd also expect that the public option might dampen their appetite.
Instead, the President's poor handling of the situation may not only prevent the public option, but also strengthen the insurance companies.
Obama, who wasn't even used to being in the Senate, did not know how to act as an executive and reach an agreement in the legislative branch. Instead, he left it to bumbling Nancy and Harry, who proceeded to screw things up more than inviting Yasser Arafat to your kid's Bar Mitzvah.
Look at this: with the government possibly forcing everyone to have coverage, but not passing a public options, insurance companies are gaining billions and billions in new revenue-- and leverage!
"The insurers are going to do quite well," said Linda Blumberg, a health policy analyst at the nonpartisan Urban Institute, a Washington think tank. "They are going to have this very stable pool, they're going to have people getting subsidies to help them buy coverage and . . . they will be paid the full costs of the benefits that they provide -- plus their administrative costs."So in the end it looks like the President is going to not only allow the insurance companies all this money, but he may to fund it with our tax dollars. People may actually get money from the feds to then give it to the insurance people that Obama abhors.
What's the solution? Sure as hell Obama doesn't know.
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