It is no surprise that health insurance companies and small businesses that do not provide healthcare benefits for their employees oppose a public option. The insurance companies fear it could put them out of business or make them spend more on enrollees, and small businesses that provide no coverage are afraid of having to contribute something toward a public healthcare pool. What is surprising, however, is...

Some in government and on television have suggested the recession may be starting to wane–or at the very least may have bottomed out. They point to a rising stockmarket, decreasing job losses (but not job gains), and banks reporting profits. Some of these bank profits–like Bank of America’s–are only on paper; they come from selling off assets, not increased revenue from business. The...