Obama keeps trying to pick winners with taxpayer money
“They are basically starting new insurance companies from ground zero, and that’s very difficult,” said retired heart surgeon and health care analyst Roger Stark of the Washington Policy Center, a Seattle think tank that promotes free-market policies. “I’m all for giving consumers a lot of choices, but most of these start-up loans come from taxpayers, and a lot is going to go to waste.”
Criticism of the program, combined with pressure to reduce federal spending, has already resulted in successive congressional budget deals that slashed funding from $6 billion to $1.9 billion; co-ops in 24 states instead of all 50 got loans. . . . .