The August 2nd bill approved by both Congress and the Senate, and signed by the President, raised the debt ceiling by close to a trillion dollars. As part of the agreement, cuts in spending programs are to slightly exceed the amount of the debt ceiling increase as a first step, and there will be approximately 2 trillion additional dollars in additional spending cuts in the next 10 years. The programs which will be cut have yet to be determined.
If cuts to Medicare take place, which will almost be a requirement due to the size of Medicare, and it being a big target for many politicians, with no accompanying increases in revenue, the consequences to Medicare recipients, mostly seniors, will be very significant.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment