On September 19, 2011, the Obama administration released its recommendations to the Joint Select Committee on Deficit Reduction, also known as the supercommittee, to cut the deficit by more than $3 trillion through a mix of revenue increases and spending cuts. The administration’s plan includes increased revenues to achieve a more balanced approach that helps prevent deeper cuts to programs that support Medicare and Medicaid beneficiaries, their families, and caregivers. Overall, the administration’s plan reduces the deficit by $1.5 trillion through increased revenues generated in part by eliminating tax breaks for the wealthiest Americans and coorporations. In addition, in his remarks announcing the plan, President Obama made a firm commitment to veto any proposal including changes to Medicare benefits that does not include significant increases in revenues.
Deficit Reduction and Medicare President Obama’s Plan