Obama hosts summit to rescue health bill

President Barack Obama launches a last-ditch bid to salvage his stalled healthcare overhaul today at a televised summit that could offer more potential for political theater than problem solving.

After months of heated battle over healthcare reform in the Congress, leaders in both parties held out little hope for compromise at a bipartisan meeting that will provide a national stage for the arguments fueling the long-running debate.

"I think it's nearly impossible to imagine a scenario under which we could reach an agreement" unless Democrats scrap the reform bills passed last year, Senate Republican leader Mitch McConnell said.

Obama and his fellow Democrats have no intention of doing that, but Obama hopes to influence wavering Democratic lawmakers and voters who have lost enthusiasm for the effort to reshape the $2.5 trillion U.S. healthcare industry.

The bills passed by the Democratic-controlled House and Senate late last year were designed to rein in costs, regulate insurers and expand coverage to tens of millions of Americans.

But efforts to merge them and send a final version to Obama collapsed in January after Democrats lost their crucial 60th Senate vote in a special election in Massachusetts amid broad public dissatisfaction with the healthcare drive.

Obama offered his own version of the healthcare plan on Monday in an effort to break the legislative gridlock, but Republicans immediately rejected it. The White House still promised to seek common ground with Republicans.

(Via Reuters)