President Barack Obama is raising the stakes in the ongoing talks to raise the debt ceiling and lower the deficit — proposing $4 trillion in cuts over the next decade, including reductions to Social Security, The Washington Post is reporting.Obama has already indicated he would support cuts to the “delivery-side” of Medicare and Medicaid as long as Republicans agree to new revenues, but including Social Security in the deal will be tough for many Democrats to stomach.
realising there is a broad public consensus to “do it big,” Obama is going beyond the $2.4 trillion in cuts previously discussed as part of a deal to raise the debt limit.
More Republicans are coming around to agreeing to revenue increases as part of a deal — though they said they will not agree to new taxes.
Obama will meet with congressional leaders Thursday at the White House to continue negotiations.
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