Dems: The ball in the GOP’s court on Medicare cuts

In order for the talks over the “fiscal cliff” to move forward, Democrats say Republicans must propose their own plan for Medicare cuts and other cuts to entitlement programs.The Democrats took a hard line last night, after top Republicans rejected President Obama’s first offer to resolve the “fiscal cliff” on the grounds that it did not address spending cuts seriously enough. From the New York Times, the plan mostly included ways to raise revenues, with the additional promise that $400 billion in entitlement savings could possibly be negotiated next year:Treasury Secretary Timothy F. Geithner presented the House speaker, John A. Boehner, a detailed proposal on Thursday to avert the year-end fiscal crisis with $1.6 trillion in tax increases over 10 years, $50 billion in immediate stimulus spending, home mortgage refinancing and a permanent end to Congressional control over statutory borrowing limits. The proposal, loaded with Democratic priorities and short on detailed spending cuts, met strong Republican resistance. In exchange for locking in the $1.6 trillion in added revenues, President Obama embraced the goal of finding $400 billion in savings from Medicare and other social programs to be worked out next year, with no guarantees. Continue Reading…

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Dems: The ball in the GOP’s court on Medicare cuts

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