GOP’s Deficit Plan Passes House

The House passed late last week a FY2012 budget plan that would cut trillions in spending over the next decade, transforming Medicare to a voucher program for seniors to purchase private health insurance and funding Medicaid through state block grants.

Four Republicans voted against the measure: Reps. Ron Paul of Texas, Walter Jones of North Carolina, David McKinley of West Virginia, and Denny Rehberg of Montana. All Democrats opposed the budget.

President Barack Obama will be pitching his deficit reduction proposal on the road this week with town hall-style events in three states. Obama’s plan calls for reducing the federal deficit by $4 trillion within 12 years along with reforms to Medicare and Medicaid that do not fundamentally transform the entitlement programs, but institutes higher taxes for the wealthiest 2% of Americans.

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House Passes Ryan’s Controversial Budget Plan

Senate budget chief cool on Ryan plan

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