At the Washington Post, Ceci Connolly reports President Obama's proposed budget will create a $634 billion health care fund to partially pay for a vast expansion of the U.S. health system.
According to the Post Obama's health care overhaul will cost as much as $1 trillion over the next decade:
Obama would pay for the expansion by trimming tax breaks for the wealthy and tightening payments to insurers, hospitals and physicians, according to a senior administration official.
According to the Wall Street Journal, Obama's spending cuts are also aimed at "curbing health-care spending overall":
The cuts would affect a range of interests, including managed care companies, prescription drug manufacturers and hospitals.President Obama at an event announcing his nominee for Commerce Secretary on Wednesday.
The proposed tax change would limit the deductions available to people in the highest income tax brackets.
A trillion here a trillion there pretty soon. . . .
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