Topic: Medicare

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5 steps to bipartisan cuts in Medicare – and the deficit

Medicare is the single greatest contributor to long-term deficits. If Democrats and Republicans cooperate on waste-cutting ideas – many of which are backed by President Obama – both parties stand to gain. Here are five ways Congress should act.
If not 'sequester,' then what? Five ideas from left and right.

Few in Washington believe that "the sequester,” $85 billion in automatic spending cuts set to hit the federal budget as of March 1, is a good idea. But what's the alternative? Here are five proposals, from the right, the center, and the left, to replace the sequester. Which do you like?
Sequester 101: What happens if $85 billion in cuts hit on March 1

The sequester is a complex concept with a tortuous history. Here are the basics on the automatic spending reductions set to kick in March 1.
Senate freshmen: What the 14 new members bring to Capitol Hill

A freshman Senate class was sworn in Jan. 3, bringing diverse skills and experience – not to mention agendas – to the legislative body. Whether the 14 newest senators help break partisan gridlock, or refuse to work across the aisle, will be the test for the 113th Congress.Twelve were elected on Nov. 6, including three Republicans, eight Democrats, and an independent. In addition, a Republican and a Democrat were appointed to vacant seats after the election. Here is a look at the 14 and what they bring to the Senate:
How much do you know about US entitlement programs? Take our quiz.

The push to reform entitlement programs is at the heart of debates about the future of the US budget. They include Social Security, Medicare, Medicaid, unemployment benefits, Supplemental Nutrition Assistance Program (food stamps), and Temporary Assistance for Needy Families (welfare).

All Content

Tax revenue to hit record this year. So is spending 'the problem'?

Tax revenue could hit $2.7 trillion, according to the Congressional Budget Office. Conservatives say this means spending cuts are the solution, but the budget numbers tell a more complicated story.
Who will take on job of fixing Detroit's finances?

It appears the appointment of an emergency manager to take over Detroit's failing finances is all but a done deal. But who will Gov. Rick Snyder name to the difficult, thankless job?
Tax VOX The sequester won't last. Here's why.

The sequester is not written on stone tablets. Like every other budget gimmick Congress invents, this one can be rewritten, waived, and otherwise adjusted. And like every one before it, it probably will be.
What the 'sequester' means for you ... and what won't change

For millions of Americans, life should go on much as usual, but for millions of others cuts in federal spending from the 'sequester' are likely to bring tangible effects. Which camp are you in?
Obama's plan to replace the 'sequester': Does the math add up?

President Obama wants to replace the sequester with a package of spending cuts and tax revenues adding up to $1.5 trillion over 10 years. But some say that's not enough savings.
Energy Voices Why globalization is energy intensive and wreaks havoc on oil prices

Globalization uses up finite resources like oil and coal more quickly, Tverberg writes. It also increases carbon dioxide emissions and acts to increase world oil prices, she adds.
Tax VOX How to avoid the sequester and give both parties what they want

To move beyond the sequester, Republicans and Democrats must figure out what they can give up to get what they really want, Steuerle writes.
Obama's divide-and-conquer strategy: Is it really about destroying GOP?

The day after Obama's inauguration, Boehner accused him of trying to 'annihilate' the Republicans. Indeed, the party's struggles since have only grown. But weakening the GOP may not be all Obama wants.
Ben Bernanke: Bring down the federal debt, don't just 'stabilize' it

Reducing the debt-to-GDP ratio is the most important long-term fiscal policy for the US, said Fed Chairman Ben Bernanke during his semiannual report to Congress.
If not 'sequester,' then what? Five ideas from left and right.

Few in Washington believe that "the sequester,” $85 billion in automatic spending cuts set to hit the federal budget as of March 1, is a good idea. But what's the alternative? Here are five proposals, from the right, the center, and the left, to replace the sequester. Which do you like?
Sequester 101: Is all this fuss really necessary?

The sequester spending cuts set to kick in March 1 address a serious long-term problem. But are they needed this year and in this way? No one thinks it's a perfect step.
Sequester 101: What happens if $85 billion in cuts hit on March 1

The sequester is a complex concept with a tortuous history. Here are the basics on the automatic spending reductions set to kick in March 1.
Decoder Wire What sequester says about who's controlling the Republican Party

The looming cuts to the military and domestic spending are pitting the GOP's defense hawks against its antitax and small-government crusaders. So far, it's pretty clear who's winning.
Robert Reich Entitlement reform and immigration reform: How are they connected?

One logical way to help deal with the crisis of funding Social Security and Medicare is to have more workers per retiree, Reich writes, and the simplest way to do that is to allow more immigrants into the United States.
Tax VOX Bowles-Simpson II: a new plan to avoid the sequester

The Bowles-Simpson framework seems a plausible alternative to the current game of sequester-and-gridlock, Gleckman writes.
New Simpson-Bowles plan: how it envisions a sustainable fiscal path for US

The proposals by former White House Chief of Staff Erskine Bowles and former Sen. Alan Simpson would supplant the 'sequester,' among other things.
Tax VOX A new marriage penalty for the rich

New Medicare payroll tax could cost high income couples as much as $1,350 in extra tax. But some couples will get a tax break.
Tax VOX Spending cuts: five reasons allowing sequestration is bad policy

Spending cuts will begin to automatically take effect in two weeks, Harris writes, and allowing the sequester's automatic spending cuts to happen would be terrible policy.
State of the Union 101: How much in Medicare cuts did Obama put on table?

Obama didn't offer as much in savings from Medicare cuts as did the Simpson-Bowles deficit reduction commission. But his State of the Union message outlined ways to shave a good chunk of change from Medicare costs. Here's how.
‘Grand bargain’ on deficit reduction: RIP?

President Obama's State of the Union address did nothing to address the nation's long-term fiscal imbalance, say deficit hawks. But Republicans share the blame.
Tax VOX Obama's State of the Union and the great deficit debate

In his State of the Union address Tuesday, Obama continued to express a willingness to slow the growth of Medicare, but only around the edges, Gleckman writes.
Obama urges a budget without brinkmanship. But can Congress stop the insanity?

In his State of the Union address, Obama calls on Congress to reject manufactured crises as a way of doing its budgetary business. But with fiscal flash points looming, the temptations are powerful.
State of the Union 101: Has Obamacare really slowed rise of health costs?

The president's State of the Union claim that Obamacare has slowed the rise of health costs misses the fact that key provisions don't kick in until 2014 and that slower spending is related to a weak economy.
State of the Union: Obama and Rubio go head to head on the middle class (+video)

In the State of the Union and the GOP response, President Obama and Senator Rubio offer starkly different visions of how government can help (or hurt) the middle class – and those aspiring to join it.
President Obama's State of the Union address full text

The text of the State of the Union address as prepared for delivery by President Barack Obama, and provided by the press office of the White House.