It also noted that the health care law that he signed into law showed savings of $100 billion. Much or all of that funding came from Medicare, even though Obama's aides insisted during his successful campaign for re-election that he had not made any cuts in it.
Boehner's plan, in addition to calling for $800 billion in new revenue, envisions $600 billion in savings over a decade from Medicare, Medicaid and other government health programs as well as $300 billion from other benefit programs and another $300 billion from other domestic programs.
It would trim annual increases in Social Security payments to beneficiaries, and it calls for gradually raising the eligibility age for Medicare from 65 to 67, beginning in a decade.
AP White House correspondent Ben Feller contributed to this story.
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The ironic thig is that the GOP is offering Obama exactly what he asked for in 2011. If they don't give into his demands this year, what will be his demands next year? There is no consistancy in Obama other than opposing the GOP.
@RedShirt -- Then why didn't the Republicans agree to it last year when he asked for it? If it is acceptable now, why wasn't it acceptable then? There is no consistency in the GOP other than opposing Obama.
To "Wonder" They tried to close loopholes. Read the Washington post story "Cantor says GOP open to cutting tax loopholes in debt deal, but Senate Republicans balk". The story discusses how the Republicans wanted to talk closing More..