At least as envisioned by the most gung-ho LibDem proponents. Ezra Klein gives it to them straight after viewing the latest Senate Finance Committee proposal:
I think this sums up the centrist-liberal divide on healthcare (via The Hill):
There is concern among centrists in the caucus that the draft bill, to be released Friday, will reflect some of the more liberal ideas in the caucus, although leadership has already rejected the idea of a single-payer system. It is being put together by the House Education and Labor, Energy and Commerce and Ways and Means committees. “You have a bunch of crazy liberal chairs and their crazy liberal staffers, and they want to lay down a marker,” said a senior Democratic aide.
That is the conclusion of my pal Larry Kudlow of CNBC:
This is like the fox guarding the henhouse. After all, the Fed’s overly loose money policies created the asset bubble — including housing, commodities, and energy — in the first place. Near-zero interest rates, huge money growth, and total disregard for the plunging dollar are what set up the housing boom and the unfortunate overleveraging by consumers, mortgage borrowers, and Wall Street securitizers.
If I was in Congress and Treasury Secretary Geithner was testifying before my committee (as he is doing today in the House and Senate), I might ask him the following: