In a speech scheduled for Wednesday, President Obama is expected to call for more cuts in Medicare and Medicaid, according to a report by the Washington Post.
Although the healthcare reform law is projected to slow Medicare spending over time, "we have to do more," said David Plouffe, the president's senior adviser, said in a talk show Sunday.
Mr. Plouffe said the president would name a dollar amount to cut. The speech would also call for tax increases for people making over $250,000 a year, which was already part of the president's proposed 2012 budget.
President Obama is preparing for an upcoming battle with Republicans over extending the federal government's debt limit, which will be reached by mid-May. Without increasing the limit, the government wouldn't be able to meet all of its obligations through early July at the latest.
Congressional Republicans have said they would not vote to increase the debt ceiling without significant cuts in spending. The debt ceiling is currently set at $14.294 trillion, and the government currently has roughly $14.2 trillion in debt outstanding.
Read the Washington Post report on Medicare.
Read more on proposed federal budget cuts.
-Hospital Groups Slam GOP Budget Plan, Especially Medicaid Cuts
-GOP Proposal Would Fundamentally Change Medicare, Medicaid
-Federal Deficit Panel's Draft Report Includes Fee-Fix, Cuts for Hospitals
Although the healthcare reform law is projected to slow Medicare spending over time, "we have to do more," said David Plouffe, the president's senior adviser, said in a talk show Sunday.
Mr. Plouffe said the president would name a dollar amount to cut. The speech would also call for tax increases for people making over $250,000 a year, which was already part of the president's proposed 2012 budget.
President Obama is preparing for an upcoming battle with Republicans over extending the federal government's debt limit, which will be reached by mid-May. Without increasing the limit, the government wouldn't be able to meet all of its obligations through early July at the latest.
Congressional Republicans have said they would not vote to increase the debt ceiling without significant cuts in spending. The debt ceiling is currently set at $14.294 trillion, and the government currently has roughly $14.2 trillion in debt outstanding.
Read the Washington Post report on Medicare.
Read more on proposed federal budget cuts.
-Hospital Groups Slam GOP Budget Plan, Especially Medicaid Cuts
-GOP Proposal Would Fundamentally Change Medicare, Medicaid
-Federal Deficit Panel's Draft Report Includes Fee-Fix, Cuts for Hospitals