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- Jan 12, 2010
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Washington (CNN) -- President Barack Obama is seeking $3 trillion to $4 trillion in deficit cuts over the next decade, a move that would require putting Social Security, Medicare, defense spending and tax reform on the table as part of a balanced approach to cuts, Democratic officials familiar with the negotiations told CNN.
The officials, speaking on condition of anonymity, did not say what types of cuts would have to be considered under such a proposal. In the past, one Social Security adjustment debt negotiators have discussed is cost-of-living.
The news comes as top Republican and Democratic congressional leaders head to the White House Thursday to negotiate a deal to tackle mounting deficits and allow an increase in the federal debt ceiling.
The House returned to work Wednesday from its Fourth of July break, a day after the Senate cut short its recess to come back to Washington. Democrats and Republicans are at sharp odds over what sort of conditions should be attached to a hike in the current $14.3 trillion debt ceiling.
A congressional aide, close to the negotiations, said the only real talks going on are between Obama and House Speaker John Boehner, who are discussing "in good faith" a $4 to $5 trillion debt reduction package.
Officials: President Obama seeks $3 trillion to $4 trillion in cuts - CNN.com
A deal must be reached, and must be reached soon.
Everyone needs to give and take, the president is giving, whether Boehner is taking will be seen shortly I'm sure.
But if Republicans or democrats in congress for that matter are going to push this bull**** all the way to dead line... then the only people that lose are the American people, who gains politically, I have no idea really.
For those who say "don't raise it". I actually in a way hope they don't raise the debt ceiling, so you can see what truly ignorant screw balls you really are.
But all in all, exciting times. Take it away Bobby.
Come gather round people
Wherever you roam
And admit that the waters
Around you have grown
And accept it that soon
Youll be drenched to the bone.
If your time to you is worth savin
Then you better start swimmin or youll sink like a stone
For the times they are a-changin.
Come writers and critics
Who prophesize with your pen
And keep your eyes wide
The chance wont come again
And dont speak too soon
For the wheels still in spin
And theres no tellin who that its naming.
For the loser now will be later to win
For the times they are a-changin.
Come senators, congressmen
Please heed the call
Dont stand in the doorway
Dont block up the hall
For he that gets hurt
Will be he who has stalled
Theres a battle outside and it is ragin.
Itll soon shake your windows and rattle your walls
For the times they are a-changin.
Come mothers and fathers
Throughout the land
And dont criticize
What you cant understand
Your sons and your daughters
Are beyond your command
Your old road is rapidly agin.
Please get out of the new one if you cant lend your hand
For the times they are a-changin.
The line it is drawn
The curse it is cast
The slow one now
Will later be fast
As the present now
Will later be past
The order is rapidly fadin.
And the first one now will later be last
For the times they are a-changin.