Posted: Apr 13, 2011 11:28 AM by Posted by Sharlee Barriere
WASHINGTON (AP) - When President Barack Obama outlines his plan to reduce federal deficits later today, he's risking anger from liberals along with scorn from Republicans.
He's been briefing congressional leaders today on his plan, which will include increased taxes while targeting some politically-sensitive health care programs.
The White House says President Barack Obama will call for lower health care spending in Medicare and Medicaid, more tax revenue and reduced defense spending.
Obama's speech is aimed at drawing contrasts with a Republican plan the White House says unfairly singles out middle-class taxpayers, older adults and the poor.
The White House won't offer details of the president's approach ahead of the speech. But an official commenting on the condition of anonymity said the plan borrows from the December recommendations of Obama's bipartisan fiscal commission, which proposed $4 trillion
in deficit reduction over 10 years.
Appearing on nationally broadcast interview shows this morning, the No. 2 House Republican and the chairman of the Ways and Means Committee both said tax increases shouldn't be on the table for budget discussions.