Obamacare Is Going Down

It is a system that cannot last, because like all r-strategist schemes, it requires free resources.

Bad news for New Yorkers, thanks to ObamaCare: More than 100,000 policyholders just learned that their Health Republic insurance plans will be canceled on Dec. 31. The start-up insurer (spun off from the Freelancers’ Union) is hemorrhaging red ink and has to close down.

That’s unfortunate for the policyholders, who now have to scramble to find other coverage and try to keep their doctors.

But even worse is the abuse of taxpayers across the country: Congress loaned a whopping $2.5 billion of taxpayers’ money to Health Republic of New York and 22 other boondoggle insurance co-ops, even after being warned by its own budget experts that many co-ops would fail and not repay the loans. How carelessly politicians spend other people’s money.

If anything, the experts’ warnings were understated. Across the nation, 21 out of the 23 co-ops are either shut down already or losing money. And it’s your money going down the rathole.

The irony is, in trying to protect everyone fully, they will end up destroying the limited protections individuals were able to carve out for themselves. In trying to bring about r-selection, they will only make the K-selection worse.

It’s a K-selected world. In the long run, you just can’t fight it.

Apocalypse cometh™