Healthcare Reform and the Big Tradeoff
From a strictly economic perspective, there is no right answer to this question. Arthur Okun said long ago that the big tradeoff in economic policy is between equality and efficiency. The pending healthcare reform bill moves us along that tradeoff. Let's just not pretend, as some healthcare reformers would have us do, that we can easily get more equality without paying the price in efficiency.
Put simply, the healthcare reform bill would make the United States more like western Europe. That may mean more security about healthcare, but it also means that future generations of Americans will likely spend more time enjoying leisure.