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Accountability folly free trade & free markets general freedom moral hazard nannyism national politics & policies

Bailed — Before Bailout

health insurance, experts, obamacare, insurance, costs, illustration, meme

Last Wednesday, UnitedHealthcare Group Incorporated (UNH) announced that it will drop coverage of plans under Obamacare in all but a few states by 2017.

The market signaled a thumb’s up: UNH stock prices shot up over 2 percent.

The company, described in the news, somewhat vaguely, as the country’s largest insurer, is sending us a signal: the Affordable Health Care Act and its “Obamacare”?

Not affordable.

An insurance policy must make sense to both parties, the insured and the insurer. The insured gets peace of mind . . . and coverage when the rare events insured-for take place. The insurer has written enough insurance contracts out there, prices based on actuarial risk, to allow it to make a profit even with payouts.

The problem with the ACA is that it raised costs (in part by forcing insurers to take on patients with pre-existing conditions) while regulating terms of policies offered . . . and prices, too.

Plus, face it: the idea that one should insure for regular checkups is just one of the many absurdities built into the system.

It’s just too much meddling to work, in the long run. Bailouts and subsidies of those insurance companies that stick with the plan will then make the program unaffordable . . . for America’s taxpayers.

Over-regulated and over-subsidized, Obamacare suffers from the preposterous idea that a bird’s eye view of the economy from the politicians’ perch gives enough information to run complex systems servicing millions of people with diverse needs.

Expect more big stories with tags lines ballyhooing a “serious blow to Obamacare.”

This is Common Sense. I’m Paul Jacob.

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health insurance, experts, obamacare, insurance, costs, illustration, meme

 

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Today

Freedom Day

April 25 is celebrated as Freedom Day in Portugal.

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Thought

Mary Wollstonecraft

My own sex, I hope, will excuse me, if I treat them like rational creatures, instead of flattering their fascinating graces, and viewing them as if they were in a state of perpetual childhood, unable to stand alone. I earnestly wish to point out in what true dignity and human happiness consists — I wish to persuade women to endeavour to acquire strength, both mind and body, and to convince them that the soft phrases, susceptibility of heart, delicacy of sentiment, and refinement of taste, are almost synonymous with epithets of weakness, and that those beings who are only objects of pity and that kind of love, which has been termed its sister, will soon become objects of contempt.

Mary Wollstonecraft, A Vindication of the Rights of Woman (1792).

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links

Townhall: Bailed. Out?

A serious blow to Obamacare?

Over at Townhall, the prospect of a major U.S. government program self-destroying in front of out eyes.

What will we make of it? Click on over. Then come back here. For a few more assays:

Categories
Today

Congress’s Library

On April 24, 1792, the French national anthem, “La Marseillaise,” was composed by Capt. Claude Joseph Rouget de Lisle.

Eight years later to the day, the United States Congress approved a bill establishing the Library of Congress.

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Thought

Harriet Tubman

I had crossed de line of which I had so long been dreaming. I was free; but dere was no one to welcome me to de land of freedom, I was a stranger in a strange land, and my home after all was down in de old cabin quarter, wid de ole folks, and my brudders and sisters. But to dis solemn resolution I came; I was free, and dey should be free also; I would make a home for dem in de North, and de Lord helping me, I would bring dem all dere.

Harriet Tubman, as quoted in Sarah H. Bradford, The Moses of Her People (1886).

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video

Video: Repeat the Failures of Somalia?

Not all talks need visual aids or a declamatory style. Here a scholar calmly looks at Somalia and sees repeated failure and cluelessness … on the part of our government, especially.

And now our foreign policy geniuses want to export from Somalia the very same policies that worked so poorly there!

CAUTION: The speaker here appeals to the facts and to reason. There is none of that excitement of the denunciatory spirit, so common on YouTube. No cheap thrills. This is for reasonable people.

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Today

A Student Protest

On April 23, 1968, students at New York City’s Columbia University held a demonstration to protest military research and the condemnation of part of the neighboring Morningside Heights section of Harlem to make way for a new student gymnasium. The protest escalated into a week-long occupation of five campus buildings before police moved in. Some 712 students were arrested, and over 100 injured during the forcible eviction. After the university-ordered police response, a student strike shut down the campus for the rest of the semester.

Categories
general freedom ideological culture national politics & policies too much government

The Drinking Gourd

$20, currency, twenty dollar, Jackson, Hamilton, Tubman, illustration

By now, most people are probably OK with Treasury’s plan to oust Andrew Jackson off the face of the $20 Federal Reserve Note and replace him with Harriet Tubman.

I certainly am. Ms. Tubman was a great hero of freedom. President Jackson has a more . . . mixed legacy.

The original plan to rotate Alexander Hamilton off the ten spot met with pushback as a result of his rising popularity from the Broadway play, Hamilton. Besides, Hamilton deserves blame—er, placement on the nation’s official paper money. Hamilton devised the first national banking system. Andrew Jackson, decades after Hamilton’s death, nixed that insider-mercantile scheme by refusing to re-authorize the central bank of the day, setting up a very different system for the Treasury and America’s banks.

Less than a century later, Hamilton’s idea was revived in the form of the Federal Reserve. Which we benefit/suffer from to this very day.

But in a bizarre twist, Jackson was not simply replaced. He was demoted. Tubman is to be placed on the note’s obverse, and Jackson moved to the back of the bus, er, note. The reverse.

I would have preferred to revive Old Hickory years from now, after the Federal Reserve dissolved, to be featured on a private bank’s note. After all, private banks did that for years between Jackson’s time and the modern period.

Bank notes don’t need the imprimatur of government.

That would allow us to place, on the flip side of the sawbuck, a more suitable image — of the Big Dipper, which served escaped slaves as a direction, to go north: “follow the Drinking Gourd.”

Additionally, the Big Dipper suggests bailouts, doesn’t it?

We’ll have plenty more before the system is changed.

This is Common Sense. I’m Paul Jacob.

PDF for printing

$20, currency, twenty dollar, Jackson, Hamilton, Tubman, illustration

 

Common Sense Needs Your Help!

Also, please consider showing your appreciation by dropping something in our tip jar  (this link will take you to the Citizens in Charge donation page… and your contribution will go to the support of the Common Sense website). Maintaining this site takes time and money.

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Today

Immanuel Kant

On April 22, 1724, philosopher Immanuel Kant was born.

Aside from being the pre-eminent modern philosopher and originator of transcendental idealism, Kant was also a major figure of Enlightenment thought, a classical liberal, and the originator of the notion of the Categorial Imperative. He was an early and important astronomical theorist in his early career, but produced his greatest works towards the end of his life, including The Critique of Pure Reason and The Groundwork for the Metaphysics of Morals. He was also author of the 1795 essay “Perpetual Peace: A Philosophical Sketch.”

Arthur Schopenhauer is widely known as an admiring and astute critic of Kant’s thought, while philosophical opponents include Friedrich Nietzsche and Ayn Rand. Kant’s approach to ethics continues to excite interest today, with some of the revival a result of the work of John Rawls.

Kant died on February 12, 1804, in Königsberg, Prussia (now Kaliningrad, Russia), where he had lived the bulk of his life.