WASHINGTON (AP) — President Barack Obama is pressing Democrats to support a higher deficit reduction proposal that could win Republican support for new tax revenue while reducing costs for major benefit programs such as Medicare and Social Security as the price to reach a deal on raising the government's debt limit.
Congressional leaders from both parties will go to the White House Thursday, hoping to move closer to a budget deal with less than four weeks to avert a first-ever default on U.S. financial obligations.
"I think there will be a spirit of trying to get results here," House Majority Leader Eric Cantor, R-Va., said early Thursday.
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