WASHINGTON — As negotiations on raising the debt limit persist, reports say President Obama is willing to reduce significant spending in Medicare and Social Security in exchange for Republican support in fresh tax revenue.
This deal may upset many Democratic policymakers, however, Obama is set to argue in a meeting Thursday morning that a consensus must be met on the nation’s budget problems.
The Washington Post Reports:
The move marks a major shift for the White House and could present a direct challenge to Democratic lawmakers who have vowed to protect health and retirement benefits from the assault on government spending.“Obviously, there will be some Democrats who don’t believe we need to do entitlement reform. But there seems to be some hunger to do something of some significance,” said a Democratic official familiar with the administration’s thinking. “These moments come along at most once a decade. And it would be a real mistake if we let it pass us by.”