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UPDATE 3-Obama tries to woo Republicans with cuts in budget
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
reuters.com / By Mark Felsenthal / April 5, 2013, 5:59pm EDT
President seeks compromise with Congress on deficit
WASHINGTON, April 5 (Reuters) – U.S. President Barack Obama will offer cuts to Social Security and other benefit programs in a budget proposal next week aimed at winning over enough congressional Republicans to pass a broad deal to reduce the deficit.
While Obama’s previous budgets have largely been ignored in Congress, the White House wants to use this year’s proposal, to be released on Wednesday, to move beyond the fiscal fights that have consumed Washington since 2010.
But several attempts to reach an agreement balancing spending cuts with tax increases have failed, and prospects for a “grand bargain” remain dim. House of Representatives Speaker John Boehner, who let taxes rise for the wealthiest Americans earlier this year, has ruled out any further revenue increases and was lukewarm about Obama’s latest proposal.
“When the president visited the Capitol last month, House Republicans stated a desire to find common ground and urged him not to make savings we agree upon conditional on another round of tax increases,” he said in a statement. “If reports are accurate, the president has not heeded that call.”
Obama also faces resistance from fellow Democrats over his offer to apply a less generous measure of inflation to calculate cost-of-living increases that would affect Social Security and other government programs when he reveals his budget.
Thanks to BrotherJohnF
2013-04-06 07:02:43
Source: http://silveristhenew.com/2013/04/06/update-3-obama-tries-to-woo-republicans-with-cuts-in-budget/
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