Obama plan to cut $360B from Medicare, Medicaid

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The administration's 2013 budget proposal will cut more than $360 billion from Medicare, Medicaid and other healthcare programs over the next decade, according to a spending proposal to be unveiled today, reported The Hill's Healthwatch. President Obama aims to tackle the $3 trillion deficit--a plan announced in September--with cuts mostly to providers and drug reimbursements, the blog post noted.

"The President's 2013 Budget is built around the idea that our country does best when everyone gets a fair shot, does their fair share, and plays by the same rules," states the spending blueprint summary. "... That begins with putting the Nation on a path to live within our means - by cutting wasteful spending, asking all Americans to should their fair share, and making touch choices on some things we cannot afford, while keeping the investments we need to grow the economy and create jobs." Blog post