Dick Morris sums up the contents of the Reid bill at least where it stands now.

• No public option, so the bill has no teeth
• Relatively few new people will get health insurance. Many young and healthy people will decide to pay the fine. (They are making a good bet in my judgment.)
  
• Rationing may not be as bad as feared since new patients won't flood into the system
• Medicare cuts are proposed but may not ever happen, since Congress will have to have the guts to pass them, which historically they have not. This will run up the deficit.
  
• Medicaid will expand to cover more of the poor and working poor up to everyone making 150 percent or less of the poverty level. In Arkansas, for example, anyone whose income is less than $27,000 will be eligible. This will call for a tax increase.
  
• Medicare Advantage will be gutted and replaced by Medigap insurance, which costs more. This change will adversely affect 10 million elderly.