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Democrats Look to “Nationalize” Hurricane Insurance

May 31, 2008

 The Democrats are beginning to show us their true colors. Between the recent threat  by Maxine Waters to socialize the oil companies and this latest news that Democrats are looking at “nationalizing” hurricane insurance there can no longer be any question that these people are nothing more than socialists.

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 (emphasis added) reinsurance program covering all 50 states, which would essentially backstop the giant insurers in case of disaster.

 Big government swooping in to save the day. Not surprising, Hillary Clinton and Barack Obama support this increase in spending, as does the RINO governor of Florida, and vice president candidate (UUUGGGHHH) Chalie Crist. McCain, at least so far, opposes it.

 “This is a very large federal program,” and the only state currently in a position to benefit is Florida, said Douglas Holtz-Eakin, Mr. McCain’s policy director.

 By the way, how come Democrats aren’t being accused of being in bed with BIG INSURANCE?

Sen. Clinton received $1.5 million from individuals in the insurance industry during the 2008 campaign cycle. She received $10,000 from Allstate employees, and $12,550 from State Farm, according to the Center for Responsive Politics. Mr. Obama received $960,000 from individuals in the industry. Employees from Allstate and State Farm, both based in Mr. Obama’s home state, gave him $25,000 and $35,600, respectively.

 McCain has also received money from BIG INSURANCE.

Mr. McCain, who opposed the federal catastrophe plan, received $690,000 from individuals in the insurance industry, $9,000 from Allstate employees and $21,000 from employees of State Farm.

 It is becoming quite clear that the Democrats are moving towards, or at least talking about “nationalizing” (read socializing) several different privately run businesses. These people must be stopped. Nothing comes without a price and it is always the taxpayers who will pay. With all of the federal programs that are being promised we are in for major tax increases, somebody has to pay, and it is always the people who work the hardest.

 These Democrats are showing us a frightening path forward into socialism that is going to cost us all dearly. Too many people love the promise of a free, or in the case of this hurricane insurance “nationalization” an almost free ride. Too many people have become accustomed to the idea that the government should take money from the workers and give it away. They have been seduced by the promise of a free lunch and I wonder if we are going to be able to stop it.

 The Democrats of today have forgotten the words of one of their most esteemed leaders, JFK, when he said: “And so, my fellow Americans: ask not what your country can do for you—ask what you can do for your country.”
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One Comment leave one →
  1. June 1, 2008 8:31 am

    Hurricane insurance for all 50 states? The last time a hurricane even came close to reaching Wisconsin was once or twice in 100 years and even then it whimpered in as a bad thunderstorm.

    I’m certain all the people in Montana are quivering with excitement on having hurricane coverage. Sheesh.

    Maybe they can nationalize Tornado Insurance too. Oh yeah, that’s why it is called Homeowners Insurance. But our Feds know best. Increase the cost for the sake of redundancy and slower economies.

    Like

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