Health Insurance Update: A Debacle in the Making

There's so much to be said about what's wrong with Obama's initiatives on health insurance, and so many who are saying it, we hardly need to make the point ourself. So we will urge gentle readers to consider the pointed words of National Review's economics editor Larry Kudlow, who nicely points out the unaffordability of the whole enterprise as well as its inherent inability to deliver what's actually needed. A few quotations:

Does anybody really believe that adding 50 million people to the public health-care rolls will not cost the government more money? About $1.5 trillion to $2 trillion more? At least.

So let’s be serious when evaluating President Obama’s goal of universal health care, and the idea that it’s a cost-cutter. Can’t happen. Won’t happen. Costs are going to explode.

Think of it: Can anyone name a federal program that ever cut costs for anything? Let’s not forget that the existing Medicare system is roughly $80 trillion in the hole. . . .

Not only will Obama’s health program cost at least twice as much as his $650 billion estimate, but his original plan to fund the program by auctioning off carbon-emissions warrants (through the misbegotten cap-and-trade system) has fallen through. In an attempt to buy off hundreds of energy, industrial, and other companies, the White House is now going to give away those carbon-cap-emissions trading warrants. So all those revenues are out the window. Fictitious. . . .

The president’s grandiose government-takeover-and-control strategies are going to make things worse and worse — that is, unless members of that tiny band known as the Republican party can stand on their hind legs and just say no. The Republicans must come up with some pro-competition, private-enterprise alternatives for health, energy, education, taxes, and trade that will meet the yearning of voter-taxpayers for a return to private-enterprise American prosperity and opportunity.

Free-market competition will lower costs in health care just as it has every place else. It also will grow the economy. The GOP must return to this basic conservative principle and reject Obama’s massive government assault.