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Apr 11, 2013

Both parties wary of Obama’s proposal to cut Social Security

WASHINGTON (Reuters) – Republicans, Democrats and even the White House distanced themselves Thursday from President Barack Obama’s proposal to trim Social Security and other safety-net benefits, illustrating yet again the difficulty of reaching a bargain to reduce spending and tame the deficit.

Republicans, including House of Representatives Speaker John Boehner of Ohio, said Obama’s offering – made Wednesday in his budget plan for the 2014 fiscal year – did not go far enough to cut spending.

Apr 11, 2013

Obama budget aims to kick start deficit-reduction talks

WASHINGTON (Reuters) – President Barack Obama proposed a $3.77 trillion budget on Wednesday that combines controversial cuts to social safety net programs with tax increases on the wealthy in a package the White House hopes will jumpstart deficit-reduction talks.

The proposal, an annual attempt to identify and fund the president’s policy desires, is unlikely ever to become law.

Apr 10, 2013

Obama budget targets millionaires, replaces sequester cuts

WASHINGTON, April 10 (Reuters) – The White House on
Wednesday proposed a budget that sharply trims the U.S. deficit
over three years by forcing millionaires to pay more in taxes
and enacting spending cuts that replace the “sequester”
reductions that went into place last month.

President Barack Obama’s fiscal 2014 budget blueprint
ensures that those making $1 million a year or more would have
to pay at least 30 percent of their income, after gifts to
charity, in taxes, officials said.

Apr 7, 2013

Republican U.S. senator sees Obama budget offer as positive

WASHINGTON, April 7 (Reuters) – South Carolina Senator
Lindsey Graham on Sunday became the first prominent Republican
to publicly praise, however lukewarmly, the budget proposal the
White House outlined last week.

Graham said that while he believes President Barack Obama’s
plan is overall bad for the economy, “there are nuggets of his
budget that I think are optimistic,” and that could set the
stage for a broad bargain to put the nation’s finances on a
stronger footing. He was speaking on NBC’s “Meet the Press”
program.

Apr 5, 2013

Obama tries to woo Republicans with cuts in budget

WASHINGTON (Reuters) – U.S. President Barack Obama will offer cuts to Social Security and other benefits programs in a budget proposal next week aimed at winning over enough congressional Republicans to pass a broad deal to reduce the deficit.

While Obama’s previous budgets have largely been ignored in Congress, the White House wants to use this year’s proposal, to be released on Wednesday, to move beyond the fiscal fights that have consumed Washington since 2010.

Apr 5, 2013

Obama budget to offer program cuts, seek deficit deal: official

WASHINGTON (Reuters) – President Barack Obama will offer cuts to Social Security and other entitlement programs in a budget proposal aimed at swaying Republicans to compromise on a deficit-reduction deal, a senior administration official said on Friday.

Under a proposal that would cut the deficit by $1.8 trillion over 10 years, the president will offer to apply a less generous measure of inflation to calculate cost-of-living increases, the official said on condition of anonymity. That change would result in lower payments to some beneficiaries of the Social Security program for retirees and is staunchly opposed by many congressional Democrats as well as labor and retiree groups.

Mar 25, 2013

Obama presses Congress to act quickly on immigration reform

WASHINGTON (Reuters) – President Barack Obama urged Congress on Monday to summon the “political courage” to quickly pass immigration reform.

Speaking at a naturalization ceremony for 28 new U.S. citizens at the White House, Obama said he was pleased with steps made toward reforming immigration laws, he wants the process to be complete within months.

Mar 22, 2013

Obama to protect lands, historical sites in five places

WASHINGTON, March 22 (Reuters) – President Barack Obama is
due to announce on Monday that he will designate five locations
around the country as national monuments to protect large tracts
of land and historical sites, a White House official said.

The locations range from a 240,000-acre (97,125-hectare)
expanse in New Mexico’s high desert to the town green in Dover,
Delaware, part of a nod to that state’s role in the founding of
the republic. A national monument is similar to a national park
but can be designated directly by the president without
congressional approval, speeding the process.

Mar 20, 2013

Obama picks Indiana to win NCAA basketball championship

WASHINGTON (Reuters) – President Barack Obama on Wednesday picked Indiana University to win the NCAA annual men’s college basketball tournament, joining in the “March Madness” office pool craze that sweeps America every spring.

The president, an avid sports fan, forecast that Indiana would defeat the widely favored University of Louisville in the championship game.

Mar 12, 2013

Liberal Democrats fear Obama may give away too much on budget

WASHINGTON (Reuters) – As President Barack Obama tries to improve relations with Congress, it is not only Republicans who are wary of him but also some Democrats, who on Tuesday warned the president not to compromise their liberal principles in return for a budget deal.

At a lunch with Senate Democrats, Obama said it was critically important to work with Republicans in order to reach a “grand bargain” to reduce the country’s budget deficit, according to lawmakers.

    • About Mark

      "Mark Felsenthal is a Reuters White House correspondent who covered Barack Obama's re-election in 2012 and the fiscal crisis that immediately followed. Since joining Reuters in 2001, he has written about monetary policy, currency wars, and the housing market meltdown."
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