President Barack Obama's 2013 budget proposal will cut more than $360 billion from Medicare, Medicaid and other healthcare programs over the next 10 years, according to a brief summary of the plan (PDF) the president will submit to Congress on Monday.
The financial blueprint—which does not call for major reforms to the nation's entitlement programs—is “very similar” to the plan Obama submitted to Congress last September, White House Chief of Staff Jacob Lew told host Chris Wallace on the television program “Fox News Sunday.” That proposal had called for about $320 billion in federal healthcare spending cuts over 10 years.
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Source: Modern Healthcare
Monday's budget aims to cut the nation's deficit by $4 trillion over 10 years, but that figure includes the $1 trillion in discretionary spending that lawmakers agreed to in last year's Budget Control Act.