President Barack Obama signed the “Patient Protection and Affordable Care Act” into law yesterday. They drank champagne at the White House and Kool-Aid around the blue states.
This combination of tax and mandate is the most significant regulatory remodeling of the U.S. healthcare system since Medicare and Medicaid passed Congress in 1965.
Conservatives should hate Obamacare because it will eventually raise taxes by Two Trillion-with-a-T dollars.
Libertarians should hate Obamacare because it immediately expands the size of government.
Liberals should hate Obamacare because it will double the size and scope of the insurance companies they blame entirely for the health care crisis.
My advice? Buy stock in Unitedhealth Group (UNH, trading at $21.08/sh) and Wellpoint (WLP, trading at $36.42/sh).
Mr. Obama has made an interesting progression. In 2009, he stole what was once the largest corporation in the world and gave it to his political cronies. In 2010, he stole what is the largest health care system in the world and gave it to the insurance companies. In 2011, it appears he will steal the largest democracy in the world and give it to our (“former”) enemies.
And you thought The Perfect Storm was just a movie.