Snowe Says Health Bill Not End-All But She'll Vote Yes

Her vote today, though, won't be her final vote, she said. She wants to see a better bill as the House and the Senate bills merge and more bipartisanship. Snowe says skyrocketing insurance premium costs is akin to the Titanic. She says the bill will provide exchanges for small businesses. She affirms her opposition to the public option but says affordability is her main concern. All Americans need to have access to affordable insurance plans, she said.

Important to note: Just because the health insurers don't like the bill doesn't make the bill good. Still a lot of work to be done:

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Obama Speaks on Small Business Healthcare in Weekly Address Oct. 3

Obama says he welcomes sincere efforts to improve the Senate Finance Committee's reform proposal:

Transcript

Senate Panel Votes Against Public Option

A key Senate panel on Tuesday voted against creating a new government health insurance plan to compete with the private market.

The 15-to-8 vote in the Senate Finance Committee could forecast the fate of the public option in the Senate as a whole.

The outcome was expected but still a defeat for liberals who view government-sponsored insurance for the middle class as a key component of President Barack Obama's health care overhaul. MSNBC

Now, they're debating a Chuck Schumer amendment, a supposed conservative public option -- whatever that is. Update: Shumer's option also failed. Watch the Senators debate health reform:

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Some context:

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Olympia Snowe on Meeting With Obama

Sens. Olympia Snowe and Susan Collins are two republicans I respect because when they criticize they do so without the name calling. They're also the only two that have shown willingness to work with the democrats on a consistent basis. Obama met with six folks on the senate finance committee. Here's what Snowe said:

We’re not talking about government-run health care – we’re talking about ensuring Americans have access to meaningful, high-quality, affordable health coverage – and we are moving heaven and earth to reach that objective. As I mentioned to the President today, unless every American receives better value for their health dollars, we cannot sustain our current health care system. And that’s why we will keep working within this bipartisan, collaborative process Chairman Baucus and Ranking Member Grassley have set the tone for -- and that we will continue over the coming weeks.” Read the whole thing at Politico

Geithner Says Bailout Money Will Be Accounted For

CNN: In prepared remarks before the Senate Finance Committee Wednesday morning, Geithner called on senators to support President Obama's proposed stimulus plan. The comments come as the Senate panel prepares to consider whether to confirm Geithner as the nation's top financial officer.

"Senators, the ultimate costs of this crisis will be greater, if we do not act with sufficient strength now," Geithner's testimony read. "In a crisis of this magnitude, the most prudent course is the most forceful course."

In his testimony, Geithner - who is currently the president of the Federal Reserve Bank of New York - also advocated "aggressive action to address the housing crisis and to get credit flowing again," though he offered no specifics.

The comments come a day after President Obama took office, only to confront the worst-ever Inauguration Day selloff in the stock market.

Geithner says the bailout, that everyone affectionately calls TARP (troubled asset relief program), will have taxpayer protections.

Geithner said a revised TARP plan will contain "tough conditions to protect the taxpayer and the necessary transparency to allow the American people to see how and where their money is being spent and the results those investments are delivering."

The comments echo those made recently by another top Obama economic aide, National Economic Council chief-designate Larry Summers.

Geithner apologizes for his "careless" and "unintentional" mistake of not paying his social security taxes.