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Obama: Deficit Push 'Can't Exempt Anyone'
By not in system - AOL NewsWASHINGTON -- President Barack Obama says the nation's effort to curb ballooning deficits "can't exempt anyone." Obama spoke Thursday as he met with the co-chairmen of his deficit reduction commission, a day after laying out his blueprint for erasing some $4 trillion in red ink over 12 years. The commission was led by former Republican Sen. Alan Simpson and Erskine Bowles, former White House chief of staff to Bill Clinton. It produced a plan for a similar amount of deficit reduction over 10 years. Obama tells reporters the country needs to ask everyone to participate in the effort to get ...
Obama's Debt-Cutting Plan: Everything on the Table
By not in system - AOL NewsWASHINGTON -- President Barack Obama, plunging into the rancorous struggle over America's mountainous debt, will draw sharp differences with Republicans Wednesday over how to conquer trillions of dollars in spending while somehow working out a compromise to raise some taxes and trim a cherished program like Medicare. Obama's speech will set a new long-term deficit-reduction goal and establish a dramatically different vision from a major Republican proposal that aims to cut more than $5 trillion over the next decade, officials said Monday. Details of Obama's plan are being closely held so ...
White House: Obama Regrets Vote Against Raising Debt Limit
By not in system - AOL NewsWASHINGTON -- The White House says President Barack Obama regrets his vote as a senator in 2006 against raising the debt limit. A fight over raising the debt limit is looming, and the White House is trying to explain away the apparent contradiction between Obama's previous opposition, and his position now that it must be increased. Press Secretary Jay Carney said Monday that Obama believes his vote was a mistake. He said Obama now realizes that the debt ceiling is too important to be trifled with. Republicans are threatening to withhold their votes to raise the ceiling unless Obama agrees ...
GOP Presidential Field Eyes Budget Wars From Afar
By not in system - AOL NewsWASHINGTON -- Republicans are pressing ahead with one of the most ambitious and risky long-term spending agendas in memory, yet the dozen or so potential White House hopefuls are nearly invisible on the issue. They can't stay on the sidelines for long, however. The contentious debate will rope them in on terms they might find hard to control. The triumph of tea party candidates in 2010 pumped new urgency into a long-brewing Republican Party push for major cuts in domestic and benefit programs, including Medicare and Social Security. In the absence of a Republican president or ...
GOP Budget Proposal Would Increase Health Cost for Future Retirees
By not in system - AOL NewsWASHINGTON -- Most future retirees would pay considerably more for health care under the new budget proposed by House Republicans, according to an analysis by nonpartisan experts for Congress that signals problems ahead for the plan. The fiscal blueprint would put people now 54 and younger in a different kind of health care program when they retire, unlike the Medicare that their parents and grandparents have known. Instead of coverage for a set of benefits prescribed from Washington, they'd get a federal payment to buy private insurance from a choice of government-regulated plans. "A ...
White House Seeking Deal in Budget Stalemate
By not in system - AOL NewsWASHINGTON -- The White House said Tuesday it was still confident Republicans and Democrats could reach an agreement to fund the government through the end of the year and avoid a shutdown, while admitting frustration at the pace of negotiations. "We believe a deal is possible," White House spokesman Jay Carney told reporters. Carney spoke as President Barack Obama huddled with congressional leaders at the White House for talks aimed at reaching an agreement ahead of a Friday deadline to keep the government operating. While the White House has been heavily involved in the budget ...
House GOP Plans Third Stopgap Bill to Avoid Shutdown
By not in system - AOL NewsWASHINGTON -- With budget talks deadlocked, House Republicans readied a weeklong bill to cut spending by as much as $12 billion while averting a government shutdown threatened for Friday, officials disclosed Monday night. The measure also would include enough money to operate the Defense Department through the Sept. 30 end of the fiscal year, the officials added. They said House Speaker John Boehner, R-Ohio, told the rank and file in a closed-door meeting he would seek passage of the bill if it became clear it was necessary to avoid shutting the government down. He presented the plan at the ...
GOP 2012 Budget to Propose More Than $4 Trillion in Cuts
By not in system - AOL NewsWASHINGTON -- A Republican plan for the 2012 budget would cut more than $4 trillion over the next decade, more than even the president's debt commission proposed, with spending caps as well as changes in the Medicare and Medicaid health programs, its principal author said Sunday. The spending blueprint from Rep. Paul Ryan, the chairman of the House Budget Committee, is to be released Tuesday. It deals with the budget year that begins Oct. 1, not the current one that is the subject of negotiations aimed at preventing a partial government shutdown on Friday. In an interview with "Fox News ...
Boehner Wants to Pass Spending Cuts With GOP Alone
By not in system - AOL NewsWASHINGTON -- Sometimes in politics and legislation, whether you win is less important than how you win. That's the dilemma facing House Speaker John Boehner as he tries to round up the votes to pass a fast-approaching spending compromise and avert a partial government shutdown by week's end. Boehner, R-Ohio, wants the overwhelming majority of those votes to come from his fellow Republicans, even if dozens of easily attainable Democratic votes could help carry the budget bill to victory. The goal complicates Boehner's task, and possibly could push the bill farther to the right. It motivates ...
Boehner Signals Compromise in Budget Talks
By not in system - AOL NewsWASHINGTON -- Despite fresh pressure from tea party conservatives, House Speaker John Boehner said Thursday that Republicans "can't impose our will" on the White House and Senate Democrats on legislation to cut tens of billions of dollars in federal spending. At a news conference, Boehner, R-Ohio, denied Democratic suggestions that he has already agreed to jettison nearly half of the $61 billion in cuts passed by the House a month ago. But as was the case with Majority Leader Eric Cantor, R-Va., earlier in the week, he did not say the demand was non-negotiable. "Our goal is to cut spending, ...
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