The Supreme Court has ruled in King v. Burwell that individuals who get their health insurance through an exchange established by the federal government are eligible for tax subsidies. Says Cato scholar Michael F. Cannon, “The Court today validated President Obama’s massive power grab, allowing him to tax, borrow, and spend $700 billion that no Congress ever authorized. …In doing so, the Court has sent a dangerous message to future administrations: If you are going to violate the law, make sure you go big.”