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Running on M4A increases the likelihood of a GOP victory in 2020, putting significant healthcare reform another 4 or 8 years out.
A PO -- if it is as good as we think -- will attract people to it quickly. In short order -- assuming the public plan delivers -- it will be easy to convert the remaining 20% or so of hardliners to the public plan.
Ideally, we'd all just give up what we have now and go directly to a single Public Plan. But, that ain't gonna happen, too many people don't trust it, for whatever irrational reason.