The Summit.

What a fun way to spend a day at work! Anyway, just 2 moments to point out now that the transcript is available:

1. In response to the argument that the government should not be regulating minimum insurance standards because .. the government shouldn't be regulating things, period:

THE PRESIDENT: We could set up a system where food was probably cheaper than it is right now if we just eliminated meat inspectors and we eliminated any regulations in terms of how food is distributed and how it's stored. I'll bet in terms of drug prices, we would definitely reduce prescription drug prices if we didn't have a drug administration that makes sure that we test the drugs so that they don't kill us.

But we don't do that. We make some decisions to protect consumers in every aspect of our lives. And we have bipartisan support for doing it, because what we don't want is a situation in which suddenly people think they're getting one thing and they're getting something else -- they're harmed by a product.

2. And a funny moment:

THE PRESIDENT: Let me just make this point, John, because we're not campaigning anymore. The election is over.

SENATOR McCAIN: I'm reminded of that every day.

On a related note, this is a great piece by Ezra Klein about the "philosophical" differences between the two parties that people kept bringing up.

...just as many people discover religion in the face of tragedy, the GOP appears to have discovered philosophy in the face of a Democratic majority.