President Obama this morning unveiled his first budget, which includes a $634 billion down payment on achieving universal health care for Americans.
Obama says increasing taxes on the wealthy, cutting wasteful Medicare spending and eliminating certain government subsidies will finance the plan. According to the Associated Press, among the proposed Medicare cuts are curbing payments to insurers serving older Americans and charging wealthier beneficiaries more for the program' s prescription coverage.
However, AP reports, the $634 billion is a little more than half the money needed to insure all Americans, including the some 48 million currently living in the United States without coverage. The nation currently spends more than $2 trillion on health care.
What do you think of the early details -- sketchy though they may be -- of the president's health care budget proposal? Comment and let me know.
