Obamacare is a Welfare Program

US Congressional health reform will destroy the private insurance market with or without a public option:

While a public option would certainly hasten the death of the private-insurance market in America, it is not a necessary means to that end. By destroying the economic structure of insurance, House Resolution 3962 would convert an already-overregulated industry into a pseudo-private welfare program. Even without a public option, insurance companies would be kept from controlling costs or adjusting their prices. The inevitable result will be the complete dissolution of the private health-insurance market.

From "New Regulations Will Destroy the Insurance Market" on Mises Daily blog, by Eric M. Staib, December 17, 2009. Read the complete post here.