The Obami choose Chaos #2

PETER SUDERMAN: President Obama Admits That ObamaCare is Unworkable. “This president’s announcement today that the White House will allow health insurance companies to continue selling plans that do not meet the Affordable Care Act’s minimum criteria—-millions of which have already been subject to cancellation notices—-is likely to be a pivotal moment in the political fight over the 2010 health law.

Pivotal indeed.  By making this 'concession' he screws the insurance companies because letting the healthy keep their older, cheaper plans while the sick sign up for the new insurance fatally undermines the devil's bargain that was necessary to get the insurers to play namely: "make the young and healthy pay through the nose and we'll cover all comers, no questions asked".  And of course he waited to announce this until the insurers had issued their rates for next year - so they can't protect themselves with pricing.  And since there is no underwriting, they can't limit their exposure.  They will lose billions.  Unless they totally withdraw from the market.  And I'm sure the administration is telling them that if they withdraw they will be for all intents and purposes out of the health insurance business forever.  Poor bastards are trapped like rats in box.  But this is what comes of conspiring with progressives to rig the market for yourselves.

And there of course will be no actual law submitted to Congress changing all this, Obama will simply amend the law by executive fiat, like the elected Monarch that he is.  The Constitution be damned.  In honor of Barack Obama, the first of his name I present a little light music:

"It's beginning to a lot like Caracas, everywhere I loooook!"  (With apologies to "It's beginning to look a lot like Christmas" or:

"Loot, loot, loot, loot, loot the Man,
Loot, loot, loot, loot, loot, the Man,
Loot, loot, loot, loot, loot, the Man.
Loot the Ma-a-an, Ta-ake his ha-a-and (and arm and leg and assets and equity).
We're Obama rock 'n rollin', Obama rock 'n rollin' tonite"  (With apologies to "Barbara Ann")