Emanuel told the Wall Street Journal that delaying the public option with a trigger mechanism might satisfy the President. And the President responded: "I am pleased by the progress we're making on health care reform and still believe, as I've said before, that one of the best ways to bring down costs, provide more choices, and assure quality is a public option that will force the insurance companies to compete and keep them honest. I look forward to a final product that achieves these very important goals."
This is a restatement of Obama's position: That he supports a public option, but that reform efforts must lower costs, expand options, and guarantee quality, and he'll entertain any plan that accomplishes those goals. In other words, his goal is a plan that works. But that doesn't go nearly so far as to say--as Sen. Chuck Schumer has said repeatedly--that he opposes a trigger.
In other words, the differences between Obama and Emanuel on the public option are largely rhetorical. But keep in mind, Emanuel's done this before, very recently, and he always seems to spin in the same direction.