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Obamacare Breaking News

July 2, 2012 By Richard C. Young

We’re not done yet, not by a long shot! My friends at Cato Institute explain for you that there is one executive order that could effectively block Obamacare, and this block lies within a president’s powers. As Cato’s Michael F. Cannon explains, Obamacare authorizes tax credits and outlays in an Exchange established by states. Without premium assistance, theoretically, Obamacare would collapse in states that do no create their own Exchanges. Congress, according to Mr. Cannon, has the power to create new tax credits and outlays. The executive branch does not have this power. If the IRS rule offers premium assistance in federal Exchanges, it will clearly exceed the authority that Congress and the Constitution have delegated to the executive branch.

As Cannon shows, an executive order from the next president directing the IRS either to not offer premium assistance in federal Exchanges or to rescind this rule and draft a new one could work. In the end, Obamacare would not be repealed, but a lot of Obamacare spending would cease, resulting in Congress reopening the law.

In my home state(Debbie and I live in Key West), governor Rick Scott is leading the charge against implementation of Obamacare. Florida will not begin implementing Obamacare because it is bad policy and too costly. Florida will not set up a health-insurance Exchange or participate in an expansion of Medicaid. Governor Scott believes a new president should repeal Obamacare. Alaska’s Governor Sean Parnell has previously announced that Alaska will implement no part of Obamacare. Texas Governor Rick Perry calls Obamacare a “stomach punch to the American economy.” Perry maintains, “Obamacare is bad for the economy, bad for health care, bad for freedom…. The Supreme Court failed to uphold Constitutional limits placed on Washington.” FreedomWorks has released a battle plan: “How the Grassroots Can Stop Obamacare in the Senate.” Targeting weak Senate candidates is a focal point for Dick Armey and FreedomWorks.

So, all is not lost, but we all have a lot of work to do. For my part, I will stay in close contact with Cato and post for you Cato’s best thinking. I will also stay in touch with statehouse offices of key governors, like Rick Scott, whom I have met and like. Rick Scott can make things happen. He is a take-no-prisoners kind of guy and a powerful and relentless worker for small government, states rights, and freedom. Rick is a regular at Cato events and extraordinarily popular.

I wish each of you a great July 4th honoring the birthday of America and the date of the adoption of the Declaration of Independence in 1776. Here at home, my big yellow Don’t Tread On Me flag is flying alongside my 13-star American flag honoring America’s original states. Make it a great 4th.

Warm regards,

Dick

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Richard C. Young
Richard C. Young is the editor of Young's World Money Forecast, and a contributing editor to both Richardcyoung.com and Youngresearch.com.
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