U.S. Rep. Paul Ryan (R-Wisc.) is grabbing the third rail of American politics with both hands. The Republican budget guru unveiled a sweeping 2012 federal budget proposal Tuesday that many critics say would essentially eliminate Medicare , the national health plan for the elderly. Republicans say that without spending cuts, America faces a dire, fiscally insolvent future. The unprecedented plan, dubbed "the path to prosperity," would slash the budget deficit by about $6.2 trillion over the next decade,and reduce the deficit by$4.4 trillion. It would also repeal the health care bill signed by President Obama last year. Many commentators give the plan little chance of passing a Democratically controlled Senate, let alone of winning the President's signature. But it does reframe the debate in Washington , with Republicans showing they'rewilling to propose politically risky cuts to keep the deficit from spiraling out of control. Under the proposal, the government would give Medicare beneficiaries vouchers for private coverage instead of directly reimbursing hospitals for seniors' care, which it does today. In such a defined contribution plan, instead of the current defined benefit plan, seniors could end up paying a lot more out of their own pockets, liberal critics of the plan say.
Via http://www.nydailynews.com/news/politics/2011/04/05/2011-04-05_gop_rep_paul_ryan_roils_dc_with_controversial_medicareslashing_budget_would_repe.html?r=news
