We introduce a new and well defined power counting for the effective field
theory describing nucleon-nucleon interactions. Because of the large NN
scattering lengths it differs from other applications of chiral perturbation
theory and is facilitated by introducing an unusual subtraction scheme and
renormalization group analysis. Calculation to subleading order in the
expansion can be done analytically, and we present the results for both the 1S0
and 3S1-3D1 channels.Comment: 10 pages, 3 figures, latex. Corrected typo, small change to tex