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Obamacare Is a Market. Markets Aren't Perfect.

The withdrawal of Aetna from many of its Obamacare markets has unleashed a torrent of commentary about how Obamacare is now well and truly doomed. From Republicans, this is the usual hot air. From Democrats, it's a little different. It's also way overblown, and I'm happy to see Jonathan Chait make the case for Obamacare's basic solvency here. Go read it. For myself, I just want to focus on one of Chait's points: The reason Aetna withdrew is that they weren't making money.
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