Malignant Liberal Idiocy

I am hard on John McCain because I have very little confidence in the man who would have considered being John Kerry’s running mate and has fought hard over the years to hamper liberty and harm our sovereignty. Today I will give the man who would be president some credit. Senator McCain has, to this point not supported a measure to nationalize reinsurance for catastrophic storm damage. This bill which passed the House and is now in committee in the Senate is named to sell, the “Homeowner Defense Act of 2007” (H.R. 3355, S. 2310.)

Drudge has a link to a Wall Street Journal article by Elizabeth Williamson, “Taxpayers May Face Hurricane Tab.”

WASHINGTON — As hurricane season begins, Democrats in Congress want to nationalize a chunk of the insurance business that covers major storm-damage claims.

The proposal — backed by giant insurers Allstate Corp. and State Farm Mutual Automobile Insurance Co., as well as Florida lawmakers — focuses on “reinsurance,” the policies bought by insurers themselves to protect against catastrophic losses. The proposal envisions a taxpayer-financed reinsurance program covering all 50 states, which would essentially backstop the giant insurers in case of disaster.

The program could save homeowners roughly $500 apiece in annual premiums in Florida, according to an advocacy group backed by Allstate and State Farm, the largest writers of property insurance in the U.S.

Please don’t think the Dems, the major insurers, and Florida Governor “Crispy” Crist want the United States taxpayer to open their wallets without limits. On the contrary, the libiots in the House are looking out for us in Title III, Sec. 304:

(Sec. 304) Sets the maximum aggregate potential federal liability for payment of claims under all reinsurance contracts sold in any single year at $200 billion, or such lesser amount as the Secretary determines based on review of the reinsurance market.

The article indicated that the blatant Socialist presidential candidates, Barry Obama and the wife of The Rapist, support this plan. One is left to wonder if they realize that there is a limit to taxpayer liability for the decisions of others. Perhaps Barry and Hill will take what redistribution they can get, even if it isn’t entirely up to their desire for complete nationalization of property (and all other forms of) insurance. Nikita Kruschev would certainly approve of this piecemeal approach.

“We can’t expect the American People to jump from

 Capitalism to Communism, but we can assist their 

elected leaders in giving them small doses of Socialism, 

until they awaken one day to find that they have Communism.”
                                             

-Nikita Khrushchev