Obama reveals his utter lack of understanding of the free market and his utter lack of faith in it

QUESTION:

Thank you. Just to follow up on Jake's question earlier, sir: So many Americans are concerned that this plan, particularly the government insurance, the public option, would lead to reduced benefits or reduced coverage. Two questions.

One, can you guarantee that this legislation will lock in and say the government will never deny any services, that that's going to be decided by the doctor and the patient, and the government will not deny any coverage?

And secondarily, can you, as a symbolic gesture, say that you and the Congress will abide by the same benefits in that public option?

OBAMA'S AMSWER - (EXPLAINING WHY HE DESIRES A GOVERNMENT PLAN - PAID FOR BY TAXPAYERS AND ADMINISTERED BY POLITICIANS, LOBBYISTS AND BUREAUCRATS - TO "COMPETE" WITH PRIVATE COMPANIES RISKING THEIR OWN CAPITAL):

Now, you know, there have been reports just over the last couple of days of insurance companies making record profits, right now. At a time when everybody's getting hammered, they're making record profits, and premiums are going up.

What's the constraint on that?

How can -- how can you ensure that those costs aren't being passed on to employers or passed on to employees, the American people, ordinary middle-class families, in a way that over time is going to make them broke? Well, part of the way is to make sure that there's some competition out there.

So -- so that's the idea.

Obama's answer proves his lack of understanding of the free market and his basic lack of faith in it.

There are no barriers of entry for anyone starting a health insurance company.

If premiums are really TOO HIGH for the care which people need, then there would be a HUGE opening for a new insurance company to offer a NEW cheaper insurance plan and still make money - maybe MORE money because they would attract a HUGE number of applicants.

The fact that they don’t is NOT because there is no competition; it’s because there is no such thing as cheaper care which is better.

Teddy Kennedy is not seeking the cheapest care; he is seeking the best REGARDLESS of cost or cost benefit.

That’s why he is alive.

A government plan such as Obama’s would NOT pay for the care Teddy has been getting.

As another smarter blogger noted - at NRO, if I recall correctly - we don’t need a government grocery store to keep grocery prices competitive. And we don’t need a government airline, or a government hair salon or a government clothing company to keep those industries competitive.

Government colleges have not meant that Ivy League schools charge less.

The whole STATED rationale is bogus.

A LIE.

Obamacare is merely a power grab by leftist politicians.

Obama's lack of understanding of the free market and his basic lack of faith in it should surprise NO ONE: he has never EVER worked in a profit oriented business or run one and he was raised and tutored by hardcore leftists.

OBAMA IS ABOUT AS PRO-CAPITALIST AS CHAVEZ.

DISSENT ACCORDINGLY.

VIDEO HERE.