The New York Times reports on the Obama administration’s proposal to cut billions of dollars in Medicare and Medicaid spending over the next ten years. The spending cuts, aimed at helping to reduce the federal budget deficit, are opposed by groups representing hospitals, nursing homes and physicians.
“Obama administration officials are offering to cut tens of billions of dollars from Medicare and Medicaid in negotiations to reduce the federal budget deficit, but the depth of the cuts depends on whether Republicans are willing to accept any increases in tax revenues.
Administration officials and Republican negotiators say the money can be taken from health care providers like hospitals and nursing homes without directly imposing new costs on needy beneficiaries or radically restructuring either program.”
Read the full story here.