I'll do my own summary thanks. That wasn't a summary, it was propaganda.
http://edlabor.house.gov/documents/111/ ... 102909.pdf <-- longer 10 page version with more of the nasty bits exposed1. This bill doesn't cover everyone
2. They start taxing the middle class right away but the large outlay of benefits doesn't kick in until 2013
<-- conveniently after the 2012 elections3. There's a mandate to individuals to buy insurance punishable by a fine equal to 2.5% of your income or jail time
4. There's a major monetary incentive for all small businesses to drop private health insurance and force their employees onto the public option (ie. the fine is cheaper than providing insurance)
5. An additional 5.4% federal tax increase on anyone making over $500k (yikes)
6. An $8 billion pay-off to Medicare Doctors from 2012 to 2013 to shut them up
7. Up to $1,000,000 in yearly fines for hospitals or medical providers that don't report their financial relationships with doctors to HHS
8. $100 million allocated a year to pay off fraud snitches
9. Directs the Secretary of HHS to reduce Medicaid payments to States by a total of $10 billion (no mention of where to reduce costs, just a mandate to do it.)
10. Raises the deficit ceiling by a total of $10.35 billion from FY 2011 through 2019 (because There's no way we can do this without borrowing more money)
11. Removes the anti-trust exemption for the insurance industry to speed up their demise. They won't be able to compete with a public plan that's subsidized with taxes.
Seems like a whole lot of mandates with some fuzzy math to put lipstick on the pig to me and it doesn't actually solve the problems it's trying to solve.
Bang up job US house of representatives...this is why we don't let you play with nice things and you have a 21% approval rating.