US House passes $6.2 trillion dollar spending cut plan

The House of Representatives has passed a $6.2 trillion dollar bill to spending cut starting October 1 to go over the next decade. Introduced by Republican Paul Ryan, the plan would cut healthcare for the elderly and social programs for the poor. The bill passed in a 235-193 vote. It is not expected for this proposal to make it past the Democrat-led senate. The bill also would cut taxes for the wealthy, expected by the house to 'boost economic growth' - right. So the wealthy get wealthier and the poor get poorer? Good call. Obama has vowed to block major elements of Ryan's bill, however he said that compromise with Republicans for the spending cut was necessary to avoid any more economic crises.