Central planning does not work. However, failure is just a matter of time and we never know how long that will be. The Soviet Union failed but that took over 70 years. China had to largely abandon central planning after around 40 years. Europe, is in the process of unwinding and if one looks at socialized medical systems there, they are bursting at the seams due to changes in demographics.
However, central planning in the USA, such as the housing debacle in the USA 5 years ago, took 70 years for brilliant central planning to go off the rails. This is because, politicians cannot help themselves to leave things alone.
But, Obamacare is collapsing, deservedly, before it is even implemented since poorly designed central planning and the ability of modern market economies to adjust is just more robust. So what is the stupid POTUS doing to save his crowning communist achievement?
Actually, the only reason why Obama is suddenly willing to compromise over every aspect of his "crowning achievement" is that finally its tactical, and strategic failure has become clear for all to see. So it would be best to enact it piecemeal, and claim success for whatever legacy aspects of the system are working, while blasting everything that his unprecedentedly complicated, centrally-planned contraption has unleashed.People are going to suffer greatly due to central government meddling in their lives. We suffered a cataclysmic financial crisis 5 years ago, one that created by government itself and since politicians just cann't help themselves, they double down on socialism. We will pay and we will pay dearly.
Finally, why three years? Because by then Obama will be gone (absent some very radical changes to presidential term rules), and Obamacare will be someone else's problem.
Obama Considering Three Year Extension To Obamacare | Zero Hedge