politics
What's at stake
- Updated: July 13, 2011 - 11:48 PM
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Negotiators are seeking to strike a compromise to slice trillions of dollars from the federal budget by 2021. Republicans are opposed to raising taxes; want to restructure Medicare and Medicaid; and want to cut domestic agencies back to 2008 spending levels. Democrats say new revenue is required; oppose a major overhaul of Medicare and Medicaid; and want to essentially freeze spending cuts at current levels.
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