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House passes $6T spending cut plan

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Posted: Apr 15, 2011 1:36 PM
Source: Associated Press

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Topics: House of Representatives, Republican budget, Medicare, budget deficits, spending cuts, food stamps, GOP, Democrat, President Barack Obama, medical bills, private insurance, WBRZ

WASHINGTON - The House has passed a Republican budget blueprint proposing to fundamentally overhaul Medicare for future beneficiaries while combating out-of-control budget deficits.

It would impose sharp spending cuts on social safety net programs like food stamps and Medicaid.

The GOP proposal passed 235-193, with every Democrat voting "no."

The nonbinding plan lays out a fiscal vision cutting $6.2 trillion over 10 years from the budget submitted by President Barack Obama.

It calls for transforming Medicare from a program in which the government directly pays medical bills into a voucher-like system that subsidizes purchases of private insurance plans.

People 55 and over would remain in the current system, but younger workers would receive subsidies that would steadily lose value over time.

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