In a response to Rep. Paul Ryan (R-Wis.) and the GOP's proposal to overhaul Medicare and Medicaid, President Obama will unveil his own plans for the entitlement programs, reports the Associated Press and Bloomberg.
After averting a last-minute shutdown of the federal government last week that included a pact to reduce spending by $38 billion in the current fiscal year, the Obama Administration is under pressure from the Republican party to pare down spending even further and attack the current $14 trillion debt.
"You're going to have to look at Medicare and Medicaid and see what kind of savings you can get," Obama adviser David Plouffe said Sunday, indicating that the administration would likely be willing to compromise on some plan.
A proposal to pare Medicare and Medicaid was introduced last week by Ryan, who is chairman of the House Budget Committee. It included proposals to shift Medicare in its entirety to private health plans, and issue block grants to states to pay for the Medicaid program.
For more info:
- read the Associated Press article
- check out the Bloomberg article