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Drugmakers, Hospitals Targeted for Cuts in Obama’s 2013 Budget

President Barack Obama’s budget plan would trim spending on federal health programs at the expense of drugmakers, hospitals and nursing homes while seeking nearly $1 billion for carrying out the 2010 health-care law.

The fiscal 2013 blueprint, released yesterday, contains a package of changes to Medicare, the U.S. health insurance program for the elderly and disabled, and Medicaid, the health plan for the poor that would help save $362 billion over a decade to slow medical spending.