Biden Aims for $1 Trillion in Budget Cuts, Opens Medicare Cost For Debate

[Freddie Stubbs]

Source: Bloomberg

Vice President Joe Biden set a goal of at least $1 trillion in budget cuts from negotiations with congressional leaders on the federal debt as talks yesterday turned to Medicare, a contentious issue that risks replicating a partisan divide on Capitol Hill.

Democrats in the meeting ruled out concessions on Medicare without Republican agreement to raise tax revenue, a step the party’s leaders so far have rejected, according to someone familiar with the talks who spoke on condition of anonymity. Biden underscored the issue in remarks to reporters afterward.

“I made clear today that revenues have to be in the deal,” Biden said, even as he expressed optimism about prospects for the talks. Negotiators are on a pace “to get above $1 trillion” in cuts for a “down payment on the process,” he said. There is there is no agreement yet, a participant in the talks who wasn’t authorized to speak publicly said on condition of anonymity.

House Majority Leader Eric Cantor, a Virginia Republican, said he is “confident we can get to over $1 trillion in immediate cuts,” though he told reporters that “tax increases cannot pass the House.”

Read more: http://www.bloomberg.com/news/2011-05-25/biden-aims-for-1-trillion-in-budget-cuts-opens-medicare-debate.html

[DURHAM D]

1. The Medicare debate should focus on FRAUD..

They need more investigators and updated systems to catch the thieves.

[fredamae]

2. WHEN IN THE FUCK ARE THEY GOING TO

DISCUSS INCREASING THE FUCKING REVENUE???????????????

[PatSeg]

5. Biden did say

“I made clear today that revenues have to be in the deal." Republicans don't want to reach a deal. They just don't want any success that could be attributed to the president.

[fredamae]

9. I'm sorry, but imho a "mention"

does not equate to a real discussion. The Dems are miserably Failing in this particular arena.
I hope I have to retract my frustration soon.

[asjr]

3. I don't like the sound of that. We do not

and should not bargain with Republicans.

[abelenkpe]

4. They shouldn't cut anything. Nt

[Larkspur]

6. Guess Biden doesn't read the news or the latest polls about Medicare

Cutting Medicare will cut the throats of Democrats. It just cut the throat of the Repub candidate in NY-26. I hope the House Dems give Biden Hell over any benefits cuts to Medicare or Social Security.

[elocs]

8. Possibly he is too busy enjoying the sound of his own voice. n/t

[Javaman]

11. And just a couple of days ago...

biden stated something about remembering him in 2016 aka the Presidency.

Never trusted biden after he created that bankruptcy bill with the help of the credit card companies.

biden should be more concerned about pulling his foot out of his mouth that having presidential aspirations.

To me, any combination of Medicare and the word debate is bad news. Has he not been paying attention?

You are right, he does enjoy listening to his own voice. Not what he is saying just the sound of it.

[PSPS]

7. Start by allowing the gov't to negotiate prescription prices

Bush's giveaway to the drug cartels (mandating that the gov't pay full retail pricing for all prescriptions) is a disaster that, coincidentally, increases the cost unnecessarily to the tune of about $800 billion over ten years.

[muriel_volestrangler]

10. Shouldn't he be aiming for an 'at most' figure for cuts?

'At least' should apply to 'tax increases on the rich'.

[ArcticFox]

12. And remember, $1 Trillion is just the starting point

I expect that Biden will add a few trillion in proposed cuts as he negotiates with himself trying to get Republicans to vote for increasing taxes on the rich.

However, just as the Democrats can be counted on to erode their position, Republicans can be expected to hold fast to Cantor's prediction that "tax increases cannot pass the House."

If, however, Biden were to go home at the promise that "tax increases canot pass the House," Republicans wouldn't know what to do. They might start attacking each other, and they might pass a godawful budget that not a single working-class American would care for.

Maybe they'd pass something so bad that Obama could make a big show over vetoing the budget and gain some political capital on the home front. Not sure about that, but the one thing I do know is: you do not negotiate against yourself. If the other party isn't willing to pony up, you go home.

[No Elephants]

13. Vice President Biden, please meet Representative Hochul.

Ok, maybe that was a cheap shot. I don't think we know enough yet to judge this one way or another.

Though, if the past is indeed prologue.....

[plumbob]

14. Medicare costs are about half private insurer costs. So why in the fuck

are we worried about something that provides service for half the cost of the "competition"?

Average annual medical expense in the US: $14,471
Medicare annual expense: $7,064
Out of pocket expense for Medicare patients: $2,523.

So you can get Medicare for $9500 or so in expense per year total.

Or you can pay the friendly fuckers with the good hands or whatever $14000+, 40% MORE.

But Medicare is a problem, not the private fuckers.







If politicians get any more greedy or corrupt, they deserve an award for going way beyond the known bounds of human decency.

[No Elephants]

15. One would expect Medicare costs to be much higher because the Medicare population

consists of almost 100% of the disabled and the elderly, while private insurers are covering the younger and non-disabled folk.

[plumbob]

16. Yes. And 90% of the Medicare population has an expense of

$2900 per year. The top 10% brought the average up to the $7000 figure. So overall, it's great, and it's fantastic for the huge majority, saving 80%.

That 80% is the bribe money available to the insurance companies.

[michunionman]

20. please forgive me

Because I don't completely understand medicare

Do the recipients pay monthly fees for it or is the money from the federal govt? I am really new to this discussion and just wondering

Thanks

[plumbob]

21. You actually pay for Medicare in your regular check for your working life.

That's Part A. You buy Part B to pay for prescriptions, basically.

Here's a pretty good guide:

http://www.yourmedicaresolutions.com/pdfs/learning_center/how_medicare_works.pdf

[defendandprotect]

24. ... and imagine how Big Pharma is bankrupting Medicare!! And Obama has protected ...

the "no negotiation on drug prices" game playing for Big Pharma!!

[w4rma]

17. Credit Card Biden can suck it. (nt)

[NCarolinawoman]

18. Biden is simply stating the White House position.

Unfortunately, this is what vice presidents do. It's part of their job.

Michael Moore spoke to Laurence O'Donald last night about Democrats being in such a good political place right now, but he worries they will blow it.

How does he think they will blow it?: By not being clear on their position on medicare. Giving the Republicans the ability to say, "Democrats want to weaken medicare also." --giving the Republicans a wedge.

So there you have it.:( :banghead:

[Doctor_J]

19. So the day after the Repukes lost a "safe" seat because of threatening Medicare cuts,

the admin puts Medicare cuts on the table.

Stupid or complicit? I vote complicit.

[plumbob]

22. I second your vote. We'll see who keeps pissing on that old third rail.

Could be interesting.

[defendandprotect]

25. Sen. Bernie Sanders in 2012 -- Tom Hayden for VP -- on Democratic ticket --!!

Biden is highly questionable as VP -- especially since we need someone strongly

anti-war to succeed if this Dem administration goes into a second term --

Biden isn't someone I'll vote for -- especially since he keeps calling for Israel

to attack Iran -- !! Biden says, "Israel would be JUSTIFIED in attacking Iran!"

Biden's been saying this for more than a year now!!

WTF?

And then there's Clarence Thomas ... without which we wouldn't have had W in Oval office!

[defendandprotect]

23. Amazing that Biden is blind to the MIC -- but Medicare is clear to him!!

And thanks for Clarence Thomas, Joe!!