Obama Will Propose Medicare Cuts Wednesday

http://www.insidearm.com/news/00008797-obama-will-propose-medicare-cuts-wednesda/

President Barack Obama’s administration announced that on Wednesday it will submit a budget that will include Medicare cuts, but did not release exactly how the cuts will be made and how much they will be.

According to CNN, the president will offer to make $400 million in cuts to Medicare, but had no specifics about how those cuts will be accomplished, other than to say it will be a similar to a proposal the president made back in November. That proposal, however, was just a target figure with no specifics on where those cuts will be made, according to the New York Times.

The proposed budget also “calls for more tax revenue from the wealthy by closing tax loopholes Obama has long targeted, is its attempt at a compromise document,” according to Politico.