Wednesday, September 16, 2009
Medical roadblock: A recent Investor's Business Daily poll reveals that the nation's doctors are not at all enthusiastic about Obamacare. Fully 45% said they would consider leaving their practice or taking early retirement if the plan passes; 71% do not believe the administration's claims that more people can be covered with cheaper and better quality care.
Legal roadblock: Where in the Constitution does the federal government get the authority to require that all citizens purchase health insurance? Someone ought to be preparing to challenge the constitutionality of this plan, should it pass.
I note that according to online betting at Intrade, the odds of a government healthcare plan passing before year end have dropped from 50% in June to less than 20% today. There are just too many problems with this plan, and it is a relief to see that the public is coming out against it. What's bad news for Obama ends up being good news for the economy and the markets, since we are on track to have less government in our future than the market feared only a few months ago.
UPDATE: The constitutionality of the federal government requiring people to buy health insurance or else pay a penalty is highly questionable, as noted in this article by David Rivkin and Lee Casey.
Posted by Scott Grannis at 10:03 AM