Tyler Cowen counters Yglesias:
As I understand it, the apparently fiscally responsible portions of the bill come from a) eventual cuts in Medicare spending, and b) rising taxes on some health insurance plans and they come later of course. Few Congressional representatives are willing to do these things today, so should we predict they will be done in the future? (The same problem plagues Waxman-Markey, by the way, so these back and forth rhetorical debates are becoming quite common.) In my view, policies structured in this manner are simply another way of doing deficit spending.