Jacob Hornberger explains one of the most important legal cases in U.S. history: Lochner vs. New York:
In 1895 the New York legislature enacted a law making it a criminal violation for New York bakery owners to “require or permit” bakery employees to work more than 60 hours a week. Joseph Lochner, the owner of Lochner’s Home Bakery in Utica, was convicted of violating the statute.
Here's what the U.S. Supreme Court said in the majority opinion:
“The statute necessarily interferes with the right of contract between the employer and employees, concerning the number of hours in which the latter may labor in the bakery of an employer. The general right to make a contract in relation to his business is part of the liberty of the individual guaranteed by the Fourteenth Amendment of the Federal Constitution…. Under that provision no State can deprive any person of life, liberty or property without due process of law. The right to purchase or to sell labor is part of the liberty protected by this amendment, unless there are circumstances which exclude the right. There are, however, certain powers, existing in the sovereignty of each State in the Union, somewhat vaguely termed police powers, the exact description and limitation of which have not been attempted by the courts. Those powers, broadly stated and without, at present, any attempt at a more specific limitation, relate to the safety, health, morals and general welfare of the public. Both property and liberty are held on such reasonable conditions as may be imposed by the governing power of the State in the exercise of those powers, and with such conditions the Fourteenth Amendment was not designed to interfere.”
"Professor" Obama doesn't believe you have a right to make a contact with a health insurance to your own choosing.