Code Red

Professor David Dranove

The passing of Senator Ted Kennedy is a sad reminder that it is easier for a camel to pass through the eye of a needle than it is for the U.S. Congress to enact comprehensive health reform.  All the arrows are pointing down.  There are now only 58 solid votes for reform in the Senate (Joe Lieberman is wavering).  The moderate Republican block in the Senate supports a plan that falls far short of what the House leadership has proposed and there are no longer any strong Democratic senators willing to work out a compromise.  To make matters worse, the budget deficit is now projected to reach $9 trillion over ten years. sobering up those Democrats in Congress who actually care about the future of our economy.  And thanks in part to a brutally effective anti-reform campaign, conservative Democrats are scared of their own constituents.  I just don’t see anything significant emerging from this Congress.