Saturday, September 20, 2008

McCain Advocates Deregulating Health Care Like He Deregulated Wall Street

John McCain published an article titled, Better Health Care at Lower Cost for Every American, in the Sept./Oct. issue of Contingencies, the magazine of the American Academy of Actuaries. In his article, McCain attempts to make his case for deregulating the health insurance industry by extolling the benefits of the last decade of deregulation in the banking sector. McCain advocates a fully unregulated market-based health care system just like the now collapsing deregulated market-based financial market system that he, Phil Gramm and other Conservative Republicans created. McCain writes:
Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation.
In the last two days McCain has flip-flopped and is now talking like a market regulator while attempting to blame Obama for the financial system collapse brought on by McCain's own two decade long push to deregulate financial markets.

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