Although the phrase has become a clich? and is grossly overused, it is appropriate to use the term "too-big-to-fail" in describing the ultimate fate of the health care reform bill passed by the Senate on Christmas Eve.

It is unclear when the final bill will be approved. Democrats are hoping they can complete work on the legislation and send it to President Barack Obama's desk before his State of the Union address, just weeks away.

More realistic observers, however, don't believe Democrats can complete work on the bill much before the end of the first quarter, given all the major differences that must be reconciled.

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