Democrats and the Big Lie : Health Insurance's "obscene profits."

Democrats and the Big Lie : Health Insurance's "obscene profits."

"I'm very pleased that (Democratic leaders) will be talking, too, about the immoral profits being made by the insurance industry and how those profits have increased in the Bush years." House Speaker Nancy Pelosi, D-Calif.

Once again the Democrats in Congress are looking for a fall guy to cover their attempt to Nationalise Health care through the "Goverment Option". This time to no ones surprise its Health Insurance companies. Contrary to popular media driven misconceptions Health insurance profit margins typically run about 6 percent. However burdened by huge state mandates and anti-competitive regulations profits barely exceeded 2 percent of revenues in the latest annual measure.2% profits are anemic compared with other forms of insurance or a broad array of industries, even some very beleaguered ones. Credit ratings of some of the largest insurers have been downgraded to negative from stable heading into this year.Investors are looking at stagnant if not a shrinking market for private health plans. Investors also fear the health care surcharge in the latest health care bill will have a devastating affect of penalizing private plans and making private Health Insurance unaffordable, forcing millions into the government run plan.

Congressional Democrats are looking to add another notch in their belt after regulating the private mortgage market into crisis and pushing the US into one of the worst recessions since the great depression.