To the protest of many healthcare providers, President Obama's deficit-reduction plan announced on Monday would cut Medicare and Medicaid spending by $320 billion during the next decade, reports The New York Times. With the goal of reducing the deficit by $3 trillion over 10 years, the plan would cut $248 billion from the projected growth of Medicare and $72 billion from Medicaid and other health programs. Insuring more than 100 million people, Medicare and Medicaid accounts for about one-fourth of all federal spending. Article