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.
President Barack Obama, risking liberal anger and Republican scorn, is turning his attention to the nation's crushing debt with an anti-deficit framework that tackles politically sensitive health care programs while also increasing taxes.
In a speech Wednesday, President Obama unveiled his deficit reduction framework, vowing to curb health spending with changes to Medicare and reforms to the Affordable Care Act, which he says would save an additional $340 billion by 2021.