March 28, 2010 Posted by John at 3:09 PM

"Clean Government Now sums up the disaster that is Obamacare:

The essence of this bill is quite simple: It makes the health insurance industry an arm of the federal government by mandating (not regulating to be clear) the terms, conditions and comparative rates health insurers can offer. In short, it tells them how to run their business and then picks up the cost where those conditions prove uneconomic. We tried this experiment before. It is called Fannie Mae and Freddie Mac, and it is a major reason for the collapse of the financial system under the weight of $2T of bogus AAA securities.

When mandates replace competition, there is only one direction for prices to go: UP. Americans will not put up with rationing, and they have come to expect the best care in the world, so any pretense of cost controls is just that: pretense. Obamacare only expands the cancerous dynamics of the third party payer and creates more of a sense of entitlement to be paid for by the ever diminishing "other guy". ...

That is Washington: the bad ideas stick around like venereal disease. The good ones just ride off into the sunset like good soldiers who served us well, but whose time is too brief.

More disturbing is the reality that the comparative effectiveness of medical treatments will not be determined by medical practitioners and their patients, but rather Gucci-garmented lobbyists. ...

Beyond the inevitable failure of central planning, the unavoidable increases in premiums and overall costs, the abdication of personal responsibility and cost control through choice and consequences, the ultimate victim will be the quality of our health care.

It has only one direction to go and that is DOWN.

If you liked what Fannie Mae and Freddie Mac did to the mortgage market and the world financial system, you will LOVE Obamacare.

But it isn't too late. We have a three to four year window in which Obamacare can be repealed and replaced."

http://www.powerlineblog.com/archives/2010/03/025948.php