Transcript
12:34 Fred Barbash-Moderator: Welcome readers and welcome Henry Aaron, who needs no introduction to those who have followed policy in the fields in which he specializes. A noted health care expert, Henry Aaron focuses on the reform of health care financing; public systems such as Medicare and Medicaid; Social Security; and tax and budget policy. He is one of the nation's most distinguished and prominent scholars on these topics.
Let me begin by asking Henry whether he thinks the heavy focus on the "public option" is indeed the right focus at this stage of the healthcare debate.
12:35 Henry Aaron: I don't think so. First, we don't yet know what the option would look like. Past experience suggests that Congress will not permit a federal program to have a major adverse impact on private competitors; hence, pressure is not likely to be excessive. More importantly, it is a red flag, which I suspect Democrats will give up in order to secure a measure of bi-partisan support. The key issue is going to be how to pay for the cost of extending coverage.
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