(Bloomberg) — House Republicans are proposing to cut $5.5 trillion in federal spending and balance the budget in nine years by cutting Medicaid and food stamps and partially privatizing Medicare.
The House plan released Tuesday, straight from Representative Paul Ryan's budgets of the past, is sure to run into opposition among Republicans who control the Senate. Almost half the Senate Republicans are up for re-election next year, and few senators are eager to run on a budget that would cut benefits for senior citizens.
The Senate won't make specific cuts to Medicare in its proposal due Wednesday, said an aide familiar with the plan — evidence of the deep splits inside the Republican Party over how to govern in budget-strapped times.
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