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Friday, August 5, 2011

'Rep Cantor: Government Promises Aren't Going To Be Kept For Many'

hedge funds and bankers will continue to receive generous bailouts and tax cuts.........from nasdaq..........

" U.S. House Majority Leader Eric Cantor (R., Va.) on Wednesday suggested that Republicans will continue a push to overhaul programs such as Medicare, saying in an interview that "promises have been made that frankly are not going to be kept for many" and that younger Americans will have to adjust.

"What we have to be, I think, focused on is truth in budgeting here," Cantor told The Wall Street Journal'sOpinion Journal. He said "the better way" for Americans is to "get the fiscal house in order" and "come to grips with the fact that promises have been made that frankly are not going to be kept for many."
His comments suggest that Republicans are committed to overhauling entitlement programs such as Medicare even after President Barack Obama signed into law a debt package under which Medicare recipients weren't hit with direct cuts. Congress left Medicare recipients untouched directly in order to win enough Democratic votes for the debt package to become law.
But Republicans could make a new push to cut back on Medicare as the debt- reduction deal is implemented. The law initially provides for $917 billion in spending cuts over a decade, but a bipartisan committee of lawmakers must come up with a proposal by Nov. 23 to find an additional $1.5 trillion in deficit reduction. The panel's members--half of whom will be Republican lawmakers--could try again to change Medicare"............READ MORE

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