Balloon-borne observations of concentrations of OH, HO2, H2O, and O-3 in the middle and upper stratosphere are used to test our understanding of HOx photochemistry. Assuming our photochemical model is complete, the measured [OH] and [HO2] above 38 km (where HOx partitioning is no longer dependent on [NO]) are modeled best by calculations that use a 25% reduction in the ratio of the reaction rate constants for O+HO2 and O+OH as well as either a 25% reduction Of the rate constant of OH+HO2 (the primary HOx sink) or a 25% increase in HOx production. All of these changes are consistent with the uncertainties in the recommended rate constants. The kinetic parameters required to explain our observations of [OH] and [HO2] do not lead to a resolution of the long-standing "ozone deficit problem" above 45 km.