Charles Dharapak, Associated Press
Now that President Obama has admitted and apologized for misleading us on one aspect of Obamacare, we should look carefully at other parts of this law. Obamacare was intended to fix the problems we have with the current health care system. A large number of people were not covered for a variety of reasons such as if a person has a pre-existing condition. Providing insurance coverage for these people is not "insurance."
Insurance exists to protect someone based on uncertain future events. There is no uncertainty when the person is already sick. When you "insure" a person with pre-existing conditions, it's called welfare. What the government is doing is requiring insurance companies to administer welfare. I hope this doesn't sound callous. I am very sympathetic to those who need help paying for health care, but to call it insurance is just plain wrong.
Obamacare will not fix the problem. It counts on forcing young healthy people to buy insurance or pay a fine. If these people choose to pay the fine will that produce enough money to pay for the health care of sick people? Will the government give this money to the insurance companies to compensate them? Will the insurance companies raise their premiums dramatically to cover their new expenses? You can see why this new system will crash.