The argument has been ever-present, where ObamaCare is concerned, that mandating generous benefits while forbidding insurers from considering factors like pre-existing conditions, could only result in one thing: Sky-high, jacked up premiums for everyone. It's simple economics. You can't artificially heighten demand by forcing everyone to buy, while also mandating a gold standard in coverage, and not see prices soar.
But Barack Obama thinks the regulatory state can do what the stone-cold laws of the market cannot. So when insurers earlier this year began submitting their rate increase requests to state regulators - and the numbers were pretty frightening - Obama waved it off as mere posturing and assured everyone that what regulators would actually approve would be nothing of the sort.