According to a Democratic official briefed on a speech President Obama is to make at 11:35, Mr. Obama is going to announce a one-year delay in insurance companies' requirement to conform to the Affordable Care Act.
These companies will be able to continue offering their existing insurance, whether it follows the requirements of ObamaCare or not, until sometime in 2014.
The move, however, will be implemented on the President's order, most likely an executive order, that somehow changes legislation passed by Congress. The official, who spoke to the Wall Street Journal, assured them that it was constitutional.
Earlier in the day, Democrat House Minority Leader Nancy Pelosi hinted that the President was about to unveil news about his signature act. “I think it can be done administratively. The president will offer a proposal today, is my understanding,” she explained.
Why precisely the President is making this move now is almost certainly politically based and not because he actually believes it is in the best interest of the country.
His plummeting poll numbers, which have fallen drastically since early October, could be the answer. According to RealClearPolitics, on October 8, five percent more people disapproved of the President's job than approved. Today, that number now stands at 11.7%.
This move could also be in response to Republican legislation that looks to delay or weaken the President's Health Care law.
Why precisely the President did not announce this earlier, if he truly believes this is the right move, is a mystery.