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President Obama told the nation Tuesday that programs aimed at retirement security need reforming but don’t offer the solution to the nation’s deficit woes. In his 2013 State of the Union speech, Obama said across-the-board budget cuts scheduled to go into effect to tackle the deficit are difficult, but cutting Medicare and Social Security benefits instead would be a worse idea. “Yes, the biggest driver of our long-term debt is the rising cost of health care for an aging population. …
Special Post By Mary Agnes Carey | Kaiser Health News staff writer Medicare providers would see reductions of about $11 billion beginning in January as part of series of automatic spending cuts set to begin next year unless Congress acts to halt them, according to estimates released Friday by the White House Office of Management and Budget. The numbers came in a report that details how federal agencies would implement roughly $110 billion in mandatory, across-the-board budget cuts agreed to …
The budget and Medicare overhaul proposed by House Budget Committee chairman Paul Ryan, R-Wis., and just approved by the House (almost entirely along party lines) is all but certain to be dead on arrival in the Democratic-controlled Senate. But Ryan’s most recent plan to change Medicare is bound to have a long and lively life as a campaign issue this fall. Republicans, who maintain that current Medicare beneficiaries would see no change at all under the Ryan plan, hope to …
Once again, the federal government will run out of money in a few days unless Congress acts. And once again, partisan gridlock is hampering action.
Still deadlocked, despite Sunday night meeting. With three weeks to go before the government can no longer borrow money to meet its obligations, President Obama and Congressional leaders are still without an agreement on how to raise the nation’s debt ceiling limit.
Faced with mounting pressure to put the clamp on a hemorrhaging federal budget deficit, the White House unveiled Monday a $3.7 trillion budget highlighting a plan that aims to cut more than $1 trillion over the next decade. So what does this mean for you?