Free Republic

WASHINGTON (Reuters) – The Senate on Monday killed a plan to send $26.1 billion dollars to states due to deficit concerns, marking a setback for those counting on federal help with budget gaps. The plan would have been paid for by closing tax loopholes enjoyed by big multinational companies. The U.S. Senate will likely consider a revised version in coming days. The plan, which would have provided states with $16.1 billion through June for Medicaid and also give them $10 billion to avert teacher layoffs, went down in defeat because it would have added $5 billion to the deficit. Senate...

Note: The following text is a quote: http://www.whitehouse.gov/the_press_office/Weekly-Address-and-Fact-Sheet-New-Savings-Announcement/ THE BRIEFING ROOM THE WHITE HOUSE Office of the Press Secretary ________________________________________________________________ EMBARGOED UNTIL 6:00 AM ET, SATURDAY, June 13, 2009 WEEKLY ADDRESS: President Obama Outlines More than $300 Billion in new Medicare and Medicaid Savings WASHINGTON – In his weekly address, President Barack Obama announced new Medicare and Medicaid savings proposals that will contribute more than $300 billion over 10 years to paying for health care reform, beyond the historic $635 billion down payment included in his FY 2010 Budget. The President stressed in the address that the health reform effort...