By the time Mr. Obama took office in 2009, the cost of gasoline had already begun to decline, which meant that, fortunately, discussions about his “gasoline voucher” program ended. But unfortunately for America, the same kind of illogic and childish assumptions that undergirded candidate Obama’s economic rhetoric in 2008 seem to have also guided President Obama’s fiscal and economic policies for the past twenty months. This is really “bad news” for America, and it is the reason why the Obama Democrats are so horribly disliked today.
From the campaign trail, Senator Obama liked to cast economic discussions into “the good guys versus the villains” scenarios. Thus, without any regard for what Exxon Mobil’s balance sheet looked like, with no consideration of the amount of capital that was risked and invested in any given quarter, without any consideration for the number of hours of human labor and toil deployed in any given quarter, and without any discussion about the fact that American oil companies are at the mercy of global oil prices, Senator Obama simply portrayed the Exxon Mobil company as a “villain” for earning a “record profit,” and he was going to be the “good guy” who would legislate money away from the oil company and give it to “us.”
Tragically, the rhetorical assumptions that drove Mr. Obama’s presidential campaign also seem to have driven the Obama Democrats’ legislative goals regarding healthcare. Just as candidate Obama demonized and vilified oil companies two years ago, President Obama and his party in Congress have successfully demonized healthcare providers and insurance companies, and we are now experiencing the devastating results of legislative attempts to force these allegedly villainous companies to be “nice.”
There’s no doubt that American health insurance companies can behave very badly, refusing to provide coverage to clients when they should. But the Obama Democrats have conveniently ignored the one thing that can incentivize insurance companies to behave better – if the insurance market was truly open and “competitive,” and insurance companies truly had to compete for clients, they would be forced to treat their clients better – and instead, the Party of Obama has legislated a mandate for companies to be “nice.”
The mandate to be “nice” is already driving-up the price of health insurance – insurance companies that are now forced to provide coverage to their clients’ “adult children,” are making-up for the additional costs they are incurring by charging more for all their policies. Thus, the Obama Democrats’ best effort to make health insurance “more affordable” is already failing.
Americans are learning once again that campaign rhetoric is no substitute for sound economics. And any American President who promises to make your life better by vilifying your fellow countryman, is a very dangerous character indeed.
Austin Hill is an Author, Consultant, and Host of "Austin Hill's Big World of Small Business," a syndicated talk show about small business ownership and entrepreneurship. He is Co-Author of the new release "The Virtues Of Capitalism: A Moral Case For Free Markets." , Author of "White House Confidential: The Little Book Of Weird Presidential History," and a frequent guest host for Washington, DC's 105.9 WMAL Talk Radio.