Tuesday, June 22, 2010

If That Doesn't Work He Will Put a Boot to Their Throat

First he usurps the bankruptcy process with GM and threatens the creditors to get them to accept it, then he extorts $20 billion out of BP, now he is threatening the insurance companies. RIP capitalism.

President Obama, whose vilification of insurers helped push a landmark health-care overhaul through Congress, plans to sternly warn industry executives at a White House meeting Tuesday against imposing hefty rate increases in anticipation of tightening regulation under the new law, administration officials said Monday.

The White House is concerned that health insurers will blame the new law for increases in premiums that are intended to maximize profits rather than covering claims.

Uhh, you are responsible. The new law changes the way the insurance market works, they will have to respond to it. You have nobody to blame but your own misguided policies. Go back to school and take economics 101.

Tuesday, June 01, 2010

A Tale of Two Counties

As I have touched on before, end public employee unions now, before they turn us into another Greece.

Virginia law denies public employees collective bargaining rights; that's helped Fairfax resist budget-busting wage and benefit demands. As revenue dipped two years ago, Fairfax officials froze all salaries for county government and school employees with little ado. By contrast, Montgomery leaders were badly equipped to cope with recession. County Executive Isiah Leggett took office proposing fat budgets and negotiating openhanded union deals after he succeeded Mr. Duncan. Then, as economic storm clouds gathered, he shifted gears and cut spending -- while still trying to appease the unions.