From the Senate Republican Communications Center:

SEN. DICK DURBIN (D-IL): “Some Of Our Critics On The Other Side Of The Aisle Have Said, ‘You Know, They're [Democrats] Going To Cut Hundreds Of Billions Of Dollars Out Of Medicare.’ And The Simple Answer Is, Yes.” (Sen. Durbin, Floor Remarks, 3/4/10)

The Senate Bill: $466.7 Billion In Medicare Cuts
(Senate Finance Committee Minority Staff Review Of JCT And CBO Cost Estimates, 12/19/09)
 
CBO: Medicare Cuts Could “Reduce Access To Care Or Diminish The Quality Of Care.” (CBO Director Doug Elmendorf, Letter To Sen. Harry Reid, 12/19/09, P. 1, 19)
 
Specific Medicare Cuts:
 
·        $135 Billion From Hospitals
·        $120 Billion From Medicare Advantage
·        Nearly $15 Billion From Nursing Homes
·        Nearly $40 Billion From Home Health Agencies
·        Nearly $7 Billion From Hospices (Senate Finance Committee Minority Staff Review Of CBO Cost Estimates, 12/21/09)