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For its opponents, Obamacare is a disaster - a classic exampleof over-reach by an Administration that wants to expand the sizeand scope of the Federal government.

Supporters say The Affordable Care Act is a triumph, benefitingcountless millions of Americans, while reducing the threat ofpersonal bankruptcies in medical emergencies crippling healthcarecosts.

"We have decreased the rate ofthe uninsured by about a third," says our guest Megan McArdle, acolumnist at Bloomberg View.\xa0But Obamacare poses apotentially fatal threat.

"What people are doing is they're gaming the system." Some withhealth emergencies, who have inadequate medical insurance are"signing up for a fewmonths, using a ton of services and then dropping itagain."

Several large insurance companies say they are losing money onthe government-run exchanges. UnitedHealth, the nation's largesthealth insurance firm, warned it would have to pull out if marketconditions didn't improve. Exchange enrollments are lower than thegovernment had forecast.\xa0

Is Obamacare the victim of "anadverse death spiral"?\xa0 Are costs rising faster thanexpected?\xa0 Do Americans have unrealistic expectations thatwould doom any attempt to provide better coverage?

We debate the arguments from different points of view andsuggest a fix that could involve consumers more directly in costdecisions, while putting a ceiling on heath care costs for eachhousehold.

Megan McArdle is the author of "The Upside of Down: Why FailingWell Is The Key To Success."

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