Democrats have submitted the final draft of health care reform. It should get a good grade.

After weeks of negotiation, they have agreed upon a set of amendments to the Senate health care bill. The changes mean the package as a whole will cover more people, and save more money, than the Senate bill would have originally. House Democratic leaders are saying enactment would produce biggest deficit reduction act in 17 years. House Majority Whip James Clyburn described himself as "giddy."

The Democrats had to confront some tough trade-offs, too. And the amendments reflect that. In order to satisfy Congressional Budget Office accounting standards for projections after 2020, they had to accelerate a tax on benefits and pull back on financial assistance for...