Cautionary Tale

clipped from washingtontimes.com President Obama and House Speaker Nancy Pelosi claim that a new government health insurance option would strengthen competition and lower health care costs. If they really believe that theory, it doesn't explain why they are pushing a complete government takeover of the college-loan industry 16 years after federal tuition loans were created to compete with loans by private lenders. The student-loan power grab offers a cautionary tale that is relevant to the health care debate. This wasteful effort demonstrates how publicly financed alternatives to the private sector can be a slippery slope. It's common practice for government to stick its foot in the door before taking over an industry.