Last week Representative Paul Ryan has proposed a plan that would essentially make Medicare, a program to reduce and Medicaid a block grant program. Many were outraged by the plan, but it would reduce the deficit by $ 4 billion over the next 10 years.
In response to the Republican plan, and the growing concern nationwide about the deficit, President Barack Obama delivered a speech last night. Obama slammed Republican plan, but proposed to increase taxes on the rich, the military and domestic spending cuts, and using an independent Payment Advisory Board (IPAB). His plan would reduce the debt to $ 4 trillion over the next 12 years, but $ 1 trillion for the reform of health care that is already the law.
The IPAB has received criticism in the past because some health experts and opponents of reform believe that it will lead to payments of rationing health care provider or cutting. IPAB is a group of 15 members chosen by the President and approved by the Senate. This group will identify ways to reduce Medicare spending if it exceeds a certain threshold. Even if Congress does not vote on the recommendations of IPAB, they can still become law.
Rep. Paul Ryan's plan has no chance of actually becoming law and Obama did not provide details for its plan. But there will be a lot of political rhetoric on Medicare and Medicaid for the coming months.
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