Thud.

“‘Our health-care system is simply unsustainable,’ the Montana Democrat said during a news conference today at which he appeared without any other lawmaker. ‘It’s time to act.’” Well, at least we agree on that much. After frittering away a month trying to appease obvious GOP irreconcilables, Sen. Max Baucus finally releases the Senate Finance health reform bill. [Here it is.] Key components include co-ops, a tax on “cadillac” insurance plans (which still doesn’t make much sense to me), cheapo catastrophic insurance for people under 25, and, of course, no public option.

Suffice to say, it’s not up to snuff, and many important folks aren’t particularly happy. “On the House side, the Baucus proposal falls very, very short…Sen. Russ Feingold (D-Wisc.) was disappointed by the Baucus bill, calling it ‘health care reform in name only.’” Said Rep. Anthony Weiner of the failed attempts at bipartisanship: “The Senate and the president to some extent have been like a child looking for a unicorn. I don’t see it.” Nor is HCAN amused.

Update: Whatever you think of the Baucus bill, one thing is clear: Despite what they’re saying now, the Republicans got what they wanted…just ask Kent Conrad.

Webb 2.0? | The Twenty.

“The symbolism of all this to average swing voters just seems to me too powerful to pass up. The GOP is going to hang the elitist tag on Obama, as they’ve always done in recent elections. It’s worked in the last two elections, and it might well work in this one. But it stands far less a chance of working if Obama has this ruddy-faced, shit-kicking, pugnacious, southern white guy standing next to him vouching for him.” The Guardian Michael Tomasky makes the case for a Vice-President Webb, while The Prospect‘s Ezra Klein (he should stay in the Senate), Slate‘s Tim Noah (he’s too volatile), and The Atlantic‘s James Fallows (he’d hate the gig) demur.

Update: Webb aside, Sen. Kent Conrad leaks that the Obama campaign is currently floating a list of twenty or so names for veep. He “told CNN that some of those on the list are ‘top officials now,’ others are ‘former lawmakers’ and others are ‘former top military leaders.‘”

A Relapse Binge for the GOP.

“‘You talk about completely detached from reality, that’s this place,’ said Sen. Kent Conrad (N.D.), the ranking Democrat on the Senate Budget Committee.” Throwing caution to the wind despite their imploding poll numbers and the ballooning deficit, the White House and congressional Republicans craft a deal to extend Dubya’s dividend and capital gains tax breaks for the wealthy. Still, the “compromise measure falls well short of making Bush’s first-term tax cuts permanent. Instead, all of the major tax cuts passed in 2001 and 2003 would expire at the end of 2010.“

Update: The WP dissects the GOP’s tax gamesmanship: “If the deal wins congressional approval, every major tax cut passed in Bush’s first term will be set to expire on the same day five years from now. [Jan. 1, 2011.] At that moment, politicians would face a choice: Either allow taxes to rise suddenly and sharply on everyone who pays income taxes, is married, has children, holds stocks and bonds, or expects a large inheritance, or impose mounting budget deficits on the government far into the future, according to projections by the nonpartisan Congressional Budget Office.”