|from HARPER'S WEEKLY:
Senate Democrats succeeded in producing an "historic" health-care reform bill that will force millions of people to buy insurance and will tax existing benefits if they are too generous, but will not include a public option or force the pharmaceutical industry to lower its prices. Liberal Democrats were upset with Senator Joe Lieberman for playing bad cop in the Senate negotiation process, thus ensuring that both the public option and the Medicare “buy-in” options were scuttled. An amendment that would have allowed Americans to buy their medication abroad failed in the Senate, in large part because of resistance from the White House, and Republican senators tried to slow debate on health care by demanding a 700-page amendment be read out loud, thus delaying the passing of a bill that provides funding for U.S. troops. Neither President Obama nor the Senate leadership seemed particularly upset or surprised by the final bill, which Senator Harry Reid, the majority leader, was planning to pass by Christmas Eve. Health insurer stocks closed on a 52-year high. “We WIN,” emailed one insurance industry insider. “Administered by private insurance companies. No government funding. No government insurance competitor."