House Republicans give up plan to slash Medicare

[Playinghardball]

Source: Raw Story
By Eric W. Dolan

Senior House Republicans have reportedly given up on a plan to cut Medicare and eventually turn it over to the private market. The Republican budget proposal, introduced by Budget Committee Chairman Paul Ryan, also would cut trillions in spending while lowering tax rates for corporations and high income earners.

The Washington Post reported that before debt-reduction talks led by Vice President Biden, House Majority Leader Eric Cantor (R-VA) said Wednesday that Republicans were open to budget talks with the White House.

Although Republicans still believe that reining in Medicare is the best way out of the current debt crisis, Cantor said they would come up with proposals that both parties could agree on, including ending payments to wealthy farmers, limiting lawsuits against doctors, and expanding government auctions of broadcast spectrum to telecommunications companies.

According to Cantor, Republicans are seeking a budget agreement that would cut the 2012 fiscal budget and require Congress to continue cutting spending in the future.

More at: http://www.rawstory.com/rs/2011/05/04/house-republicans-give-up-plan-to-slash-medicare/