More regulation. Just what a flat economy needs

Well if you want an Universal Government run Health Care this is exactly what I'd do. There is no better way to bankrupt an organization than to regulate it to death. Which is exactly what Obama wants to do with insurance companies. Allowing the Fed to regulate rate increases will destroy insurance companies.

President Obama will propose on Monday giving the federal government new power to block excessive rate increases by health insurance companies, as he rolls out comprehensive legislation to revamp the nation’s health care system, White House officials said Sunday.

The president’s legislation aims to bridge differences between the bills adopted by the House and Senate late last year, and to frame his debate with Republicans over health policy at a televised meeting on Thursday.

By focusing on the effort to tighten regulation of insurance costs, a new element not included in either the House or Senate bills, Mr. Obama is seizing on outrage over recent premium increases of up to 39 percent announced by Anthem Blue Cross of California and moving to portray the Democrats’ health overhaul as a way to protect Americans from profiteering insurers.

Congressional Republicans have long denounced the Democrats’ legislation as a “government takeover” of health care. And while they are likely to resist any expansion of federal authority over existing state regulators, they will face a tough balancing act at the meeting with the president to avoid appearing as if they are willing to allow steep premium increases like those by Anthem.

Profit is not an evil word contrary to what most Democrats believe. If you take away profit there is no incentive to work. As more and more insurance companies stop offering health insurance the government, under Obama, would be more than happy to fill the void.

Like most Democratic ideas, they are death to politicians, so the only way to get them out there is through backdoor processes like this.