“The problem with socialism is that you eventually run out of other people's money.”
Not much that needs to be added to that quote. We are seeing what happens when the government devises plans that use flawed logic and a lack of mathematical fact.
Is it really a big surprise that the health care exchanges organized under the CO-OP program are failing? I'm pretty sure that every insurance expert or semi-expert in the known universe said it wouldn't work.
Turns out that you can't put a bunch of sick people together in a plan and have it remain solvent. There have to be healthy people in there too (paying premiums) to balance the risk. This is insurance 101.
But that's not the only thing we're discussing today, here's a complete rundown:
A brief reminder…the Financial Procast will be on hiatus for the next two weeks. We plan to make an announcement about the future of the show when we come back in a few weeks.
In the meantime, you can go back and listen to some shows in the archives if you just can't imagine life without listening to us. Here are some of the most popular episodes:
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