McCain's "Horrible" Deregulation of Health Care

I saw this on factcheck.org, and I haven’t seen much on this site about it. So I thought I’d chime in.

McCain recently penned an article in a health care industry magazine, where he proposed some deregulation for the health care industry. In that article, which was written before the current financial crisis, McCain mentions financial market deregulation in passing.Obama lept on this article, using McCain’s words in this article against him.

But, surprise surprise, the Obama ad is 110% deceptive and takes McCain’s quotes completely out of context.The Obama ad:

Announcer: “You’ve seen what Bush/McCain policies have done to our economy. Now John McCain wants to do the same to our health care.”On screen words: “McCain wants to do the same to health care.”Announcer: “McCain just published an article praising Wall Street Deregulation. said he’d reduce oversight of the health industry too…”On screen words: “McCain praised Wall Street Deregulation.”Camera zooms in on McCain’s article, highlighting the following quote:Announcer and On screen words: “as we have done over the last decade in banking.”Then the ad goes on to say some more drivel.

Well, here’s the actual quote from McCain’s article which can be found here. I have added the emphasis to show the quote that Obama plucked out of context.

“I would also allow individuals to choose to purchase healthinsurance across state lines, when they can find more affordableand attractive products elsewhere that they prefer. Opening upthe health insurance market to more vigorous nationwide competition,as we have done over the last decade in banking, wouldprovide more choices of innovative products less burdened bythe worst excesses of state-based regulation. Consumer-friendlyinsurance policies will be more available and affordable whenthere is greater competition among insurers on a level playingfield. You should be able to buy your insurance from any willingprovider—the state bureaucracies are no better than nationalones. Nationwide insurance markets that ensure broad and vigorouscompetition will wring out excess costs, overhead, andbloated executive compensation.”

OH MY GOSH! Can you believe that John McCain had the nerve to support that! Can you believe that he was actually for something as foolish as people being able to buy health care across state lines! What foolish deregulation!

Removing the tongue from my cheek, what American would be against something like this? Even the most rabid of Obama supporters surely have no problem with being able to cross state lines to purchase insurance.

I have not seen anything on this. Let’s spread the word!