The success of Obamacare is primarily predicated on the participation rate of the young and healthy (not the rich) who are to susidize the old/unhealthy, so I am not sure how that is even relevant. In terms of value for contribution, auction tag systems and Obamacare are almost diametrically opposed as the auction tag buyer get the value for their expenditure whereas Obamacare's viability is predicated upon a large percentage of the enrollies (the 18-34 crowd) buy but not using insurance to subsidize those who consume more than their premiums will cover (the old and sick).
http://www.latimes.com/nation/polit...macare-20140113,0,1592963.story#axzz2rpGEiYL3
Where does the fact that CA has highest expenditures because it has the *highest* population of any state come into your analysis? Your analysis that ignores 1/2 the equation does not constitute gross mismanagement. CA has its financial issues, but we also have a current budget surplus whihc not many states can claim.
Please provide the links, I believe your are exaggerating again. Stockton, Vallejo and Mammoth Lakes (due to a real estate developer lawsuit) are the 3 municipal bankruptcies I am familiar with during that timeframe.