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Doomsday prepper: Obama readies insurance bailout

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Politics,Chris Stirewalt,Power Play

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• Doomsday prepper: Obama readies insurance bailout
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DOOMSDAY PREPPER: OBAMA READIES INSURANCE BAILOUT - President Obama kicks off a re-re-launch today of his signature health entitlement program. Obama had campaigned for weeks ahead of the crash landing of his law on Oct. 1. He tried again after technical problems with the program’s online home proved far worse than he and his team had promised. But such campaign events went by the wayside briefly when the president was forced to apologize for having deceived voters with his now infamous “if you like it” pledge. But Obama is back today as the nation’s insurance salesman in chief, with a scheduled event at the White House in which he will put on display Americans selected by his team to illustrate the promised benefits of the unpopular law.

[The administration is pushing hard online with virtual campaign events for the young Americans they are trying to herd into the entitlement program. A Monday event featured one of the stars of the “Harold and Kumar” franchise of stoner flicks. Another “#WHYouth” event is set for Wednesday.]

Bombs away - The White House has laid out its preliminary plans for a potential bailout of the insurance industry. The regulatory filing, flagged by NYT’s Robert Pear, blames the bailout on President Obama’s sudden reversal of his long-planned regulations forcing insurers to cancel millions of policies. Obama nixed his rules after a public backlash over his misleading promise to voters in 2012 about keeping their insurance policies and doctors. But the bailout, allowed under a little-known provision of the law, may also be in answer to industry outrage over the technical and administrative failures of the president and his team. With huge sticker shock awaiting holders of cancelled policies, many may opt out even after they make it through the crash-prone Web site. Any relief to insurance companies would come on top of $1 trillion in subsidies they are slated to receive over the next ten years. 

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Chris Stirewalt

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