FRONT PAGE CONTRIBUTOR
Jim McDermott (D, WA-07) on the public option, translated into English.
For some bizarre reason, Rep. Keith Ellison thought that it was a good idea to get Rep. McDermott’s opinions on the public option on the public record. Who am I to pass up such an opportunity?
Yes, he really is advocating a policy that, to quote a colleague, “prevents insurers from calculating rates or willingness to insure based on risk; all must be served, and for no higher cost than anybody else.” And no, nobody he’s close to will ever have to face the consequences of McDermott’s policies. What, do you think that these people plan to live by the rules they’d impose upon the rest of us?
PS: Gresham’s Law: “Bad money drives out good.” It’s a common problem in any system where one competitor for resources has coercive powers and the others do not. Conservatives handle this by punishing abuse of the coercive power; libertarians wish the coercive power removed altogether; and liberals don’t understand why this is automatically a problem, at least when they control the competitor.
Crossposted to Moe Lane.