As I and others have pointed out before, any state that creates an ObamaCare insurance exchange is getting suckered into footing the bill for a federal program. The latest state to reject this scam is New Jersey, whose governor just vetoed a state-run exchange proposed by his legislature:
Gov. Chris Christie vetoed legislation establishing a state-run health insurance exchange on Thursday, blaming the federal government for failing to provide the answers he said he needs to make a fiscally sound decision on the best way to comply with the Affordable Care Act.
New Jersey is the 19th state to tell the feds to shove its exchanges. As the following chart from IBD shows, 18 states had already rejected state-run exchanges, 10 states have not decided, and 5 (now that NJ says no) are considering some variety of joint state-federal exchange:
Why does this matter? ObamaCare makes it clear that only state-created exchanges can distribute the subsidies without which the program will fail. Federally-created exchanges have no legal authority to do so. If enough governors follow Christie’s example, ObamaCare will die on the vine.
UPDATE: The deadline for states to make their intentions known regarding the exchanges was December 14, and 26 states have now refused to set up state-run exchanges.