Obama wants to create a publicly owned health insurance company. He thinks the government can run a business better than private citizens can. He smugly invites private health insurance companies to compete with his government run company. He is correct that the government run company can put the privately owned companies out of business. There are many ways that can be done, but the most likely is that the government run company can run a deficit forever. The government can also put onerous regulations on their competitors. The government is inherently a monopoly that cannot tolerate competition. Obama's belief is naive in the extreme: the government can destroy privately owned competitive companies, but cannot operate at a profit. Here is an article explaining why this is so.