Friday, June 26, 2009

Strange competition

The President has promoted the idea of a new "Public Company" health insurance provider option as "a little competition" that all those market crazies should embrace.

All I recall is that the audience did not laugh. Medicare is a public company with an unfunded liability that runs into the trillions of dollars.

But those on the left like to dismiss trillion-dollar unfunded liability talk as politicized hysteria. Don't the worry warts realize that the power to tax and the power to inflate are available to rescue the public companies that we already have?

Competition? But not on a level playing field.