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Federal Budget Deadline Looming- $1 Trillion in Medicaid Cuts on The Table

Photo by Mario Tama,Getty Images

Don’t confuse Medicaid with Medicare. Medicare is the senior insurance program that you have to sign up for when you turn 65, that supplements your private plan and still has some co-pays and spend downs.

Medicaid is an entitlement program, free to those that use it and funded by taxpayers at the state and federal levels. With the House and Senate having issues over the federal budget a current GOP plan is offering to cut $1 trillion out of Medicaid for taxpayer saving over the course of 10 years. The formula is very complicated but the one thing we as Americans know is that we are way too much in debt and we need to cut expenses fast and in a big way for the good of the economy, the job market and everything else that is attached to the debt number including the credit rating of our nation and the literal value of our dollar.

Check out the whole story from CNN Money.

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