Obama Wants To Put $634 Billion Into Health Care Fund

Washington (dbTechno) – President Barack Obama has announced a plan to put $634 billion into a health care fund over the next decade.

The idea behind it is to try and create this massive health care fund over the course of the next 10 years to act as a reserve of sorts.

This would help pay for future plans such as universal health insurance, among other things.

This announcement came just as President Barack Obama announced his future financial plans to Congress.

The money is being seen as a down payment on the future of health care in the U.S.

According to the plan, the health care reserve fund would receive $30 billion in annual receipts.  These receipts would come by putting limits on households who earn over $250,000 to claim certain deductions.

Competitive bidding created among private insurance companies offering Medicare would also generate billions annually.

This all comes as President Barack Obama aims to cut the deficit in half by the end of term one.

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