Obama aims to reduce federal health costs by $400bn over 10 yearsBMJ 2013; 346 doi: https://doi.org/10.1136/bmj.f2333 (Published 12 April 2013) Cite this as: BMJ 2013;346:f2333
- Michael McCarthy
President Barack Obama submitted his proposed 2014 budget to Congress on Wednesday, saying that his administration aimed to reduce the US budget deficit by an additional $1.8 trillion (£1.2 trillion; €1.4 trillion) over the next 10 years.
If enacted, the new budget, coupled with reductions enacted over the past two years, would reduce the US deficit by more than $4 trillion over the decade, the Office of Management and Budget has said.
It added that this would put the US on track to reduce its deficit to 2.8% of its gross domestic product by 2016 and 1.7% by 2023.
To achieve the reductions the president’s plan includes $2 of spending cuts for every $1 of increased tax revenue.
By offering a mix of tax rises and …