'This Week' Transcript: WH Sr Adviser Valerie Jarrett

KRUGMAN: The advisory path has the ability to make more or less binding judgments on saying this particular expensive treatment actually doesn't do any good medically and so we're not going to pay for it. That is actually going to save quite a lot of money. We don't know how much yet. The CBO gives it very little credit. But most of the health care economists I talk to think it's going to be a really major cost saving. I have to say, I'm wearing an FDR tie in honor of the fact that we have gone from the New Deal to the Big Biden Deal, I guess we're allowed to say.

TAPPER: Big bleeping deal?


TAPPER: Peggy?

NOONAN: Two things. One is I think execution, the ability of a government already too busy, involved, overburdened, to successfully execute this huge 2,300 page thing that nobody seems still to know fully what is in it. It is interesting to me that the American people now are getting it off the Internet. I'm getting lots of e-mails saying what the heck is this and what the heck is that. We have been talking about this bill for a year, but right now we're in the stage where everybody starts to read it and question it which I think is good --


NOONAN: Try to read something on your computer. That's complicated.

KRUGMAN: A lot of people are saying Romney care has just passed. This is essentially identical to the Massachusetts health reform. There are really no significant differences. We know it can be worked. Massachusetts, you know, there are problems with it, but it's not an unworkable system. This is what legislation looks like. I do international trade stuff. Somebody should look at a trade agreement which typically runs at 23,000 pages. This is nothing much.

WILL: First of all, Paul's prizes in economics not practical Washington wisdom. No one that I know, Paul, thinks the Cadillac tax that's been kicked down the road on the expensive health care plans until 2018 will ever be enacted.

No one thinks the Medicare cuts are ever going to be enacted. One of the ways this simple workable legislation is going to be made to work is the IRS is going to hire about 16,000 new agents to chase the American people around to make sure they pay their mandatory fees.

One half, approximately one half of the 35 million or so people who previously uninsured who are not going to be uninsured, are going to go on, the Medicaid of rules of our overburdened state governments. All of that cost will be pushed down into property taxes. This is going to have unintended consequences that will boggle your mind.

BRAZILE: I think we're going to spend the next six months once again trying to debunk all of these myths and these lies and this misinformation that's been floating around on the Internet over the last couple of years.

The truth is that this is a strong bill that will provide relief, not just to those individuals without insurance, but those individuals with insurance who announced the premiums rise, by 25, 39 percent. They're also concerned that they are one flu away or one sickness away from losing their health insurance.

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