I almost hope the Supreme Court incorrectly rules that the federal exchange can’t provide subsidies, though it would be idiotic. All the red states, faced with the utter destruction of their individual health insurance markets, would then have little choice except to take some ownership of Obamacare and open their own exchanges. In fact, that is why I think the Court won’t rule that way, because blackmailing states with the threat of destroying their health insurance markets is the kind of coercive act the Court forbade in its previous ACA decision when it ruled that the states could not be coerced into expanding Medicaid.