Breaking News: Ohio's ObamaCare Plan Collapses -- June 2, 2016: An Economic Supernova

From the Last Embassy, posted today:

“Ohio's Obamacare plan has closed up shop, making 13 out of 23 consumer-oriented-and-operated plans to shutter.

InHealth Mutual in Ohio will shut down and will force more than 20,000 people to choose new plans. They will have 60 days to find a new plan. Ohio's insurance regulator said Thursday that it had to take control of the co-op because of major losses.

The Ohio co-op is the first one this year to close. Last year, 12 of the 23 taxpayer-funded plans shut down due to mounting financial losses and a lack of federal funding.

Including InHealth, the federal government has spent $1.3 billion to set up the co-ops, which were created to offer more competition on Obamacare's exchanges.” - Ohio Obamacare co-op collapses, Washington Examiner, 05/26/2016.

By the way, that's why ObamaCare doesn't get many headlines any more: this affects 20,000 people. Twenty-thousand people in a state of 12 million people is 0.17% -- yes, not even one out of 100. About 2 out of a thousand. And the 20,000 that lost insurance have been so jerked around over the past decade, getting jerked around again was to be expected. 

The GOP needs to run, not walk, away from ObamaCare. The Dems need to solve this one; they created it.

• Trump: "Let's make America great again."
• Hillary: "Let's revisit ObamaCare."
• Gary Johnson: "Let's elect Hillary." 

This is interesting. In astrophysics, as some stars become bigger and bigger, they eventually collapse under gravitational forces, exploding --- becoming what we call a supernova. The star literally collapses "under its own weight." Supernova are fairly rare but quite spectacular. They are also critical for a universe to become habitable.

One wonders if "we" finally saw an economic supernova in the US. A supernova called ObamaCare.

I don't want to push analogy too far, but note that Type II supernova require a star about 8x more massive than our own sun but not "excessively" massive. The reason FDR's social security system did not fail: it was too massive to collapse. ObamaCare collapsed because it was 8x bigger than previous social programs but it was not "big enough, not massive enough" to prevent its own collapse.  The Dems will need to make it bigger ... and they can do that by making ObamaCare a) a single-payer program; and, b) making the Federal government the payer of last resort.

Of course, Venezuela has already experienced its supernova.

The big question: is Saudi Arabia next -- something we might have to wait until 2030 to see.