President Obama recently released his proposed FY2013 budget, which outlines his fiscal goals for the United States. In the budget, the President proposes to cut healthcare spending by $360 billion over the next decade, with $300 billion coming out of Medicare through reduced payments to healthcare providers. Despite these cuts, the budget still proposes to allocate the Department of Health and Human Services (HHS) nearly $950 billion in FY2013, with almost $500 billion proposed for the Center for Medicare and Medicaid Services (CMS) alone.
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