From Politico:
Supercommittee Democrats quietly floated details late Wednesday of a $2.3 trillion tax-and-cut proposal that includes $400 billion in Medicare and Medicaid reductions, but also clears the way for a new physician payment formula.
The framework — a counterproposal to one offered by Republicans on Monday — calls for $350 billion in savings from “Medicare reforms,” including $250 billion from the providers and another $100 billion from beneficiaries.
Democrats also plan to siphon about $50 billion from Medicaid, according to a document obtained by POLITICO. The proposal seeks to save about $20 billion from increasing Medicaid’s “inflationary rebate” — an apparent reference to the program’s prescription drug rebates — and $13 billion in provider taxes.
I’ve said it before, this does not make Democrats look like the reasonable adults in the room, it makes them look like the other party of, by, and for the wealthy.
It’s important to point out that all the deal making in the top secret, closed to the public, “super committee” is not binding. If some proposal were to emerge, it would still have to pass the House and the Senate, then be singed into law, though no amendments would be allowed. If no agreement is reached, then there are automatic cuts to social insurance programs. However, these cuts would not go into effect until after the next Congress is seated, so it’s entirely possible that the next Congress could repeal whatever the outcome of this process is before it could take effect.
Even though, it’s clear who the Democrats are siding with here, and if both the Republicans and the Democrats want to be the party that dismantles the New Deal and the Great Society, then I’m sure we can find some other candidates or parties to support.
