Thursday, June 28, 2012

SCOTUS Upholds Unpopular Obamacare

The Supreme Court today upheld the widely unpopular health care "reform" known as Obamacare. See this USA Today article for details. Oddly, Chief Justice Roberts (a conservative) voted with the four liberals to create the 5-4 majority in its favor.

Just to be clear, the Court's decision was not an endorsement of its fitness as policy, but merely a finding that the policy was lawful.

Now Obamacare's future is in the hands of the electorate. Republicans vow to repeal it, Democrats to support it. Polls continue to show Obamacare is unpopular, I've got to think the decision ends up being a plus for Republicans. We will know in roughly 130 days.

Meanwhile, the stock market reacted quite negatively to the Court's decision. See this Investors Business Daily article for more.