Friday, October 2, 2009

Why do Those That Hate Bailouts Fight to Bailout an Insurance Industry that Doesn’t Need a Bailout?

Here’s a great ad from the folks at Health Care for America Now.  The ad highlights the enormous salaries paid to insurance CEOs while regular folks are loosing their homes because they cant afford to pay their medical bills.  According to the ad, 62% of personal bankruptcies are caused by medically related debts.

I would love for somebody on the other side of this issue to explain how they can, on the one hand, be anti-public health care, and on the other hand, be anti-bailout of banks*. 

No public option means hundreds of billions of dollars will go directly to the insurance industry, as will millions of uninsured individuals who will be forced to buy health insurance from those same companies.  It’s a giant bailout of an industry that doesn’t need a bailout.  Are those fighting reform so blinded fighting government intervention that they can’t see the consequences of killing meaningful reform?  Um, yes.

*Understand, I’m not pro bailout, but I see it as a necessary evil.  Without a bailout, we’ll have new, Technicolor footage of the same black and white soup line footage from the 30s.  I know it’s been mismanaged, and that banks are no more stable today than when they collapsed last year.  Having said that, at this point in time, things could have been a lot worse.

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