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Breakfast Scramble (Wednesday)

DavidL's Breakfast Scramble
Professor Thomas Sowell – 1, Dumbo – 0, Obamcare meets Basic Economics [1], loses, Patteico’s Pontifications [2]:

So what do you think might happen [3] if you sought to make health insurance more widely available for children — by simply mandating that companies with child-only policies make those policies available to children with pre-existing conditions?

So were the staffers who wrote Obamacare in secret too stupid to understand basic economics, or were trying to dupe the public?

As  minimum wage laws demonstrate, you can not force a business to purchase a commodity on which it does not expect to earn a profit.   Likewise business sells services with the expectation of earning a profit.    No business can expect to stay in business offering services at which they will lose money.    So if give a insurance company the option of selling insurance policies at a loss or simply not sell such policies, what choice do you think they will make.   Unlike the federal government, business can not simply print money to cover operating losses.

Honorary Swamp Stomper of the Day:  Velma Hart:

Quite frankly, I’m exhausted – I’m exhausted of defending you, defending your administration, defending the mantle of change that I voted for, and deeply disappointed with where we are right now. I have been told that I voted for a man who said was going to change things in a meaningful way for the middle class. I’m one of those people and I’m waiting, sir. I’m waiting. I don’t feel it yet. And I thought while it wouldn’t be in great measure, I’d feel it in some small measure.  I have two children in private school and the financial recession has taken an enormous toll on my family. My husband and I have joked for years that we thought we were well beyond the hot dogs and beans era of our lives, but, quite frankly, it’s starting to knock on our door and ring true that that might be where we’re headed again, and, quite frankly, Mr. President, I need you to answer this honestly. Is this my new reality?

Well done, my lady.