President Barack Obama's proposed 2012 federal budget would use $62 billion in savings to delay payment cuts to physicians in the Medicare program over the next two years.
Obama's budget includes $62 billion for doc fix
According to the Associated Press, Obama proposes to spend $3.73 trillion in the coming budget cycle in a spending plan that would decrease the federal deficit by $1.1 trillion over the next decade. The source of savings was not specified in the Associated Press' story.
Senior administration officials told the AP that Obama would achieve two-thirds of the projected $1.1 trillion in savings through spending cuts, including a five-year freeze on many domestic programs.
The full budget proposal is expected to be released publicly later this morning.
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