Obama to Propose Limits on Insurance Rates
WASHINGTON -- President Obama is making a fresh attempt to rescue his health care overhaul by proposing a measure that would allow the government to deny or roll back egregious insurance premium increases that infuriate consumers.
Coming just days before a White House health care summit with congressional leaders of both parties, Obama's new legislative proposal, which will be unveiled later Monday, likely represents the president's last chance to salvage his signature issue.
A White House official, speaking on condition of anonymity because details have not yet been officially released, said the insurance rate proposal would give the federal Health and Human Services Department -- in conjunction with state authorities -- the power to deny substantial premium increases, limit them, or demand rebates for consumers. [Click to read more]
The average insurance company makes a measely 4% profit. That's about the worst return of any type of company! This proposal of Obama's will drive insurance companies out of business and directly into government hands, just the way Il Duce* Obama wants.
*For those of you in Rio Linda, Il Duce was the nickname of Mussolini, the leader of the Fascist Party of Italy, an ally of Nazi Germany. Fascism is a socialist form of government where all businesses are controlled by the government. They also seek to silence the opposition by setting controls on the media, demonizing all other views, and totally ignoring input from any other political parties. Sound familiar?
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