Obama will vow to veto any cuts proposed for the government-run Medicare wellness program for the elderly unless Congress agrees to raise taxes on organizations along with the wealthy.
The president's recommendations for you to a congressional "super committee" would deliver deficit savings of extra than $3 trillion more than the subsequent decade, his aides said, with roughly 1 / 2 of those savings via higher tax revenues.
Republicans, who control the U.S. Home of Representatives, are firmly rejecting any tax hikes to improve revenues. Quite a few Democrats note that like a sign for Obama to cease trying to compromise with Republicans more than tackling the debt, and rather to fight with the voters who put him office.
"These issues are important to your base," said Jared Bernstein, a senior fellow in the Focus on Spending budget and Policy Priorities in Washington and a former economic adviser to Second in command Joe Biden.
Obama, under fire from Democrats to guard Medicare and Medicaid well being care programs as he seeks to boost flagging support before subsequent year's election, requires that every Americans share the burden of governing the budget.
"He will veto any bill that can take 1 dime from your Medicare advantages seniors rely on with no asking the wealthiest Americans and biggest corporations to spend their great number," a senior administration official told reporters on Sunday.
Medicare, for elderly and disabled Americans, and Medicaid for your poor, are viewed by analysts as the biggest contributors to long-term U.S. deficits, which several voters see as a important problem within the election.
The U.S. budget deficit in 2011 is expected to be about $1.three trillion.
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