Democrats on ’super committee’ propose a ’grand bargain’

Los Angeles Times, October 27, 2011
"Super committee" Democrats proposed a "grand bargain" of spending cuts and new taxes to reduce deficits, picking up Wednesday where President Obama and House Speaker John A. Boehner broke off this summer, as the panel has four weeks left to strike a deal.The package, worth up to $3 trillion, was a first peek at what have been mostly closed-door deliberations. But it drew swift resistance from Republicans, who objected to the inclusion of new taxes.The $500 billion it would cut from Medicare and Medicaid picked up where the summer's negotiations left off. It proposes $400 billion in Medicare cuts equally divided between beneficiaries and providers, and up to $80 billion in cuts to Medicaid.

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