Medicare Cuts and New jersey

from FindLaw.com:

PRINCETON, N.J., Feb. 7 /PRNewswire-USNewswire/ -- The following is a statement by Gary S. Carter, President and CEO of the 119-member New Jersey Hospital Association on the federal budget cuts to Medicare and Medicaid:

"Federal budget cuts to the Medicare and Medicaid programs proposed this week by President Bush would severely compromise our hospitals' ability to provide necessary services, while pulling a much-needed safety net out from under children, the elderly and disabled New Jerseyans.

"The Bush budget proposes to cut more than $41 million in payments from New Jersey hospitals in 2008, and that number would grow to $656 million by 2012. With more than 40 percent of our state's hospitals already operating in the red, onerous reductions of that size could force program cuts, staff layoffs and outright closures.

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