At the moment, it's in the midst of a very intense debate over what lines to draw next week, when President Obama delivers a speech--and a plan--to Congress. Ezra Klein has talked to the insiders and has, based on those conversations, produced a depressingly detailed look at how it's all shaping up:

The argument was raging as recently as last night, and appears to have hardened into two main camps. Both camps agree that the cost of the bill has to come down. The question is how much, and what can be sacrificed. ... Both camps accept that the administration's proposal will be less generous than what has emerged from either the HELP or House Committees. The question, it seems, is how much less generous.

The answer, Ezra goes on to report, depends mostly on what Obama and his strategists believe they can get from Congress. And that's very much a mystery, although the answer--everybody agrees--has a lot to do with a certain senator from Maine. In any event, if you care about health reform, you should read the piece.