Ep. 11 Ignore the Bad News About Obamacare! Everything Is Fine!

27 November 2015     |     Tom Woods     |     15


This week Obamacare got some terrible news: rising premiums, lackluster enrollment (which is why the pool is sicker than anticipated), and major losses being suffered by insurance companies participating in the Obamacare exchanges. These are problems, Krugman magnanimously concedes, but not a big deal. Oh, yeah? Wait until you hear this episode!

Krugman Column

Health Reform Lives!” (November 23, 2015)

Special Offers

Learn the history and economics they didn’t teach you, at LibertyClassroom.com, and take downloadable courses with Tom and Bob!

Get three free issues of the Lara-Murphy Report, Bob Murphy’s financial publication! Click here.

Related Krugman Items

Krugman jokes about death panels
Good Glitches” (here’s what Krugman wrote the day after Obamacare launched, assuring us the website issues would be swiftly resolved)

Contra Columns

UnitedHealth Group Losing Big Money and Threatening to Leave the Obamacare Exchanges,” by Bob Laszewski
Risk Corridor Claims By Insurers Far Exceed Contributions,” by Timothy Jost
Further Wounds for Obamacare,” by Tyler Cowen

Related Episode

Tom Woods Show Episode 481: How Capitalism Can Fix Health Care

Need More Episodes?

Check out the Tom Woods Show, which releases a new episode every weekday. Become a smarter libertarian in just 30 minutes a day!

Share this post:Digg thisShare on FacebookGoogle+Share on LinkedInPin on PinterestShare on StumbleUponTweet about this on Twitter
  • Lucien

    Keynesians have one principle and one principle only which is to always spend more. If anybody takes that as the starting point of scientific analysis then they will believe that they can do anything without consequence and then the only reason their plans don’t work out is because somebody sabotaged them.

    • hyraxx

      or they didn’t spend enough

  • Kurious In Kalamazoo

    This is in no way related to the content of the show itself, but I couldnt help but wonder why doesn’t Dr. Woods just make a notepad file on his laptop instead of physically writing something down? Does he write faster than he types?

    • zee788

      Typing makes lots of noise, while writing something with a pen makes considerably less noise.

  • Tyler Wombat

    Of course the State has the upper hand! The State has the guns!

  • https://www.facebook.com/david.rogers.hunt David_Rogers_Hunt

    It’s kind of hard to beat this….

    But I am sure Krugman would try…

    • Mark

      Hypocrisy and inconsistency is the Idiot Left’s bread and butter.

  • http://tklist.us TKList

    Get government out of the health insurance business as much as possible. Limit them to limited regulations and financial support for health insurance to those who need it.

    Obamacare, Medicaid, Medicare and VA hospitals should be phased out. People under these programs and those who are financially below the poverty level should be given a yearly amount that they could use to purchase health insurance.

    Keep the federal regulation stating that insurance companies have to cover pre-existing conditions as long as the person had previous insurance.

    Allow people to purchase insurance from any state. Deregulate state health insurance markets. Unhinge medical insurance from employers in the tax code.

    Getting government out and increasing competition in this way will lower health insurance costs. It cuts the bureaucracy costs, cuts the fraud costs and improves competition and quality of care.

    Why not do financial assistance for health insurance the same way we do financial assistance for food?

  • http://tklist.us TKList

    Obamacare will implode under its own bureaucratic inefficiency, indecipherable complexity and financial instability.

    • Mark

      I doubt it. They’ll just keep bailing it out.

      • http://tklist.us TKList

        What do you think now?

        • Mark

          Lol! You saved this for a year so that you could
          “prove me wrong”? Really? This post is a YEAR old. What a narcissistic.

  • zee788

    You guys should get Blimey Cow involved in this as well. I’m sure there’s some way you two could work together.

  • zee788

    You know, some talk shows have sound effects to make things interesting. I think adding a bird sound will be a good idea.

  • http://www.economicmanblog.com Roger Barris

    Great job. One point that I think warrants additional comment: there is a deplorable tendency among the leftwing to provide benefits to preferred constituencies “off budget.” In other words, instead of providing direct benefits and paying for it with taxes (or additional deficits), the left is increasingly “mandating” that the private sector provides this directly, thereby avoiding the consequences of these freebies on the government budget. The ACA is shot through with this kind of evasion and political cowardice, with everything from the contraception “mandate” to all of the private sector penalties designed to herd taxpayers into a fundamentally re-distributional insurance structure. This type of behavior should be deplored whenever possible. First, it is specifically designed to evade one of the few restrictions on big government, being the discipline imposed by the financial markets. Second, it is also specifically designed to avoid honest political debate about these benefits, the liberals knowing that if they proposed, for example, to use government money to hand out condoms and contraception pills, they would unleash a firestorm of objections. Finally, by increasing the costs of employing workers, these government-imposed costs are a major factor behind the lagging wage growth the USA is experiencing — which, of course, creates another problem that the left can “fix” with additional government intervention. From the perspective of the left, this last point is of course a virtuous circle.