Bipartisan deficit hawks Erskine Bowles and Alan Simpson have released a gentler federal budget proposal than their earlier attempts, this time including $585 billion in healthcare spending over 10 years and cutting spending through raising the Medicare eligibility age to 67, according to a report by Bloomberg News.
The two included the same chained CPI adjustment that would slow inflation factors in budget calculations over time, a measure President Barack Obama's budget embraces to the ire of Democratic lawmakers.
The latest Simpson-Bowles plan would bring the national debt below 70 percent of GDP by 2023, shrinking the deficit slightly more than what President Obama's plan would achieve by that year but far less than Rep. Paul Ryan's budget, according to the report
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The two included the same chained CPI adjustment that would slow inflation factors in budget calculations over time, a measure President Barack Obama's budget embraces to the ire of Democratic lawmakers.
The latest Simpson-Bowles plan would bring the national debt below 70 percent of GDP by 2023, shrinking the deficit slightly more than what President Obama's plan would achieve by that year but far less than Rep. Paul Ryan's budget, according to the report
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Deteriorating Public Health Polices? What Greece, U.S. May Have in Common