House GOP passes controversial $3.5 trillion budget plan
April 15, 2011 2:27 PM
Posted by Brian Montopoli
The Republican-led House this afternoon passed a $3.5 trillion spending bill for fiscal year 2012 that cuts billions of dollars in federal spending in part by making dramatic cuts to Medicaid and transforming Medicare into a voucher-like program for Americans under 55.
The largely party-line vote was 235-193. Just four Republicans voted against the GOP budget, and no Democrats voted for it. The politically-risky plan promises to cut more than $6 trillion over a decade compared to the plan put forth by President Obama in February. It would transform Medicaid into a block grant program in which states get a lump sum from the federal government and mandates $771 billion less in federal spending on the program for the poor and disabled over a decade. It also proposes cutting $1.6 trillion in domestic discretionary spending over that same time period, as well as cuts to food stamp programs.
The nonpartisan Congressional Budget Office has found that because the GOP plan doesn't keep pace with the rising cost of health care, seniors would be paying an estimated 68 percent of their own insurance costs by 2030.
more: http://www.cbsnews.com/8301-503544_162-20054347-503544.html
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