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QueerNews版 - surrending on social security?
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g********d
发帖数: 4174
1
President Obama is pressing congressional leaders to consider a far-reaching
debt-reduction plan that would force Democrats to accept major changes to
Social Security and Medicare in exchange for Republican support for fresh
tax revenue.
At a meeting with top House and Senate leaders set for Thursday morning,
Obama plans to argue that a rare consensus has emerged about the size and
scope of the nation’s budget problems and that policymakers should seize
the moment to take dramatic action.
 What happens if Congress fails to raise the debt limit and the U.S.
can no longer make payments on its obligations?
Video
July 5 (Bloomberg) -- Michael Purves, chief market strategist and head of
derivatives research at BGC Financial LP, talks about U.S. fiscal policy and
the debt ceiling.
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Running in the red
Part 2: How GOP’s no-tax orthodoxy came to be
.As part of his pitch, Obama is proposing significant reductions in Medicare
spending and for the first time is offering to tackle the rising cost of
Social Security, according to people in both parties with knowledge of the
proposal. The move marks a major shift for the White House and could present
a direct challenge to Democratic lawmakers who have vowed to protect health
and retirement benefits from the assault on government spending.
“Obviously, there will be some Democrats who don’t believe we need to do
entitlement reform. But there seems to be some hunger to do something of
some significance,” said a Democratic official familiar with the
administration’s thinking. “These moments come along at most once a decade
. And it would be a real mistake if we let it pass us by.”
Rather than roughly $2 trillion in savings, the White House is now seeking a
plan that would slash more than $4 trillion from annual budget deficits
over the next decade, stabilize borrowing, and defuse the biggest budgetary
time bombs that are set to explode as the cost of health care rises and the
nation’s population ages.
That would represent a major legislative achievement, but it would also put
Obama and GOP leaders at odds with major factions of their own parties.
While Democrats would be asked to cut social-safety-net programs,
Republicans would be asked to raise taxes, perhaps by letting tax breaks for
the nation’s wealthiest households expire on schedule at the end of next
year.
The administration argues that lawmakers would also get an important victory
to sell to voters in 2012. “The fiscal good has to outweigh the pain,”
said a Democratic official familiar with the discussions.
It is not clear whether that argument can prevail on Capitol Hill. Thursday
’s meeting at the White House — an attempt by Obama to break the impasse
that halted debt-reduction talks two weeks ago — will provide a critical
opportunity for leaders in both parties to say how far they’re willing to
go to restrain government borrowing as the clock ticks toward an Aug. 2
deadline for raising the debt limit.
Privately, some congressional Democrats were alarmed by the president’s
proposal, which could include adjusting the measure of inflation used to
determine Social Security payouts. But others described it as primarily a
bargaining strategy intended to demonstrate Obama’s willingness to
compromise and highlight the Republican refusal to raise taxes.
Obama has already spoken to House Speaker John A. Boehner (R-Ohio) about the
possibility of building support for a more ambitious debt-reduction plan,
according to people with knowledge of those talks, who, like others quoted
in this article, spoke on the condition of anonymity to shed light on
private negotiations. The two discussed various options for overhauling the
tax code and cutting entitlement spending, but they reached no agreement.
g********d
发帖数: 4174
2
我们都被卖了。是选第三党的时候了。
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