After months of tedious wheeling and dealing (mostly dealing), Sen. Max Baucus, D-Mont., has finally unveiled his compromise health care proposal. To no one’s surprise, Baucus, who has raised millions from the health industry, has axed the public option in favor of nonprofit cooperatives.

The plan would put some restrictions on the insurance industry, but forcing Americans to buy their lousy product would more than offset those losses.

Read Chris Hedges’ “This Isn’t Reform, It’s Robbery” if you feel like getting mad about this. Also check out Bill Boyarsky’s heartbreaking update on the public option’s weakness. — PS

Wall Street Journal:

Mr. Baucus’s plan requires most Americans to carry health insurance and gives tax credits to low- and middle-income people to help them buy it. But as expected, the proposal wouldn’t create the type of government-run health-insurance plan that President Barack Obama has pushed for. Instead, it would create new nonprofit health-insurance cooperatives to compete with private insurers, a compromise aimed at helping draw support from some Republicans and moderate Democrats.

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