Obama puts Social Security, Medicare cuts on the table

Posted: July 7, 2011 in Economics, US News
Tags: , , ,

Reuters
July 7, 2011

After weeks of impasse, President Barack Obama and top congressional leaders are aiming for “something big” as they resume budget talks on Thursday to avert an imminent default.

With Republicans showing new flexibility on taxes, Democrats say Obama will push negotiators to double their target to $4 trillion (2.5 trillion pounds) in budget savings over 10 years.

That would be an ambitious goal, but there have been a few hints of progress since talks hit a brick wall two weeks ago.

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