Health-care reform, the domestic program supposed to change Americans' lives more than any other legislation since the Social Security Act of 1935, will be unveiled by Bill Clinton with a flourish of trumpets and roll of drums around May 1. Hold it: about 10 days later. On third thought, let's say the week of May 17. Er . . . would you believe mid-June?
It will cost somewhere between $30 billion and $90 billion a year. Well, make that $100 billion. Or maybe $150 billion, tops.
It might be financed partly by taxing workers on generous medical benefits paid by their...