Medicare could be replaced with a fixed payment to buy private insurance, according to one Republican proposal.
GOP proposals to cut the federal budget range from $100 billion to $500 billion to a symbolic $1.5 trillion. With Democrats wary of stifling the economic recovery, the divide just may be too wide.
Cutting $2.5 trillion in government spending over 10 years is the tea party's first step toward its 'small government' vision. Whether such measures will boost the economy or add jobs is a leap of faith, economists say.
President Obama called on America to maintain greatness through innovation. In his State of the Union address Tuesday, he also proposed cuts in defense and a partial budget freeze.
In the Obama State of the Union 2011 address Tuesday, the president says innovation and education should be at the center of efforts to strengthen the American economy.
The State of the Union address is expected to lay out five ‘pillars’ for ‘winning the future’ – education, infrastructure, innovation, deficit reduction, and reform of government.
Michele Bachmann, a Minnesota congresswoman, plans to respond to Obama's State of the Union address on behalf of the tea party movement. The Michelle Bachmann response is not the official GOP rebuttal, but Republicans dismiss appearances of a divided party.