Obama doesn't budge on his offer of cuts, taxes

Published on NewsOK Modified: February 12, 2013 at 8:20 pm •  Published: February 12, 2013
Advertisement
;

WASHINGTON (AP) — President Barack Obama is telling congressional Republicans that he is still willing to reduce the deficit but only with a mix of increased taxes and reduced spending, an offer he made during budget talks that collapsed at the end of last year. Republicans say they reject raising more tax revenue.

In his State of the Union speech Tuesday night, Obama is reiterating his proposal to reduce spending by $900 billion and increase taxes by $600 billion through a tax overhaul. The combined $1.5 trillion in deficit reduction would also reduce government payments on the debt. Obama intends to use some of those savings to pay for initiatives meant to create jobs.

The $900 billion in cuts include reductions of $400 billion in spending on Medicare and other health care programs.



Trending Now


AROUND THE WEB

  1. 1
    10 Most Popular Wedding 'First Dance' Songs
  2. 2
    Psychologists Studied the Most Uptight States in America, and Found a Striking Pattern
  3. 3
    Facebook Post Saves Drowning Teen
  4. 4
    Saturday's front page of the New York Times sports section is simple: LeBron James and transactions
  5. 5
    The 19th-century health scare that told women to worry about "bicycle face"
+ show more