Officials: President Obama seeks $3 trillion to $4 trillion in cuts

Townhall.com Staff
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Posted: Jul 07, 2011 9:33 AM
Officials: President Obama seeks $3 trillion to $4 trillion in cuts
Washington (CNN) -- President Barack Obama is seeking $3 trillion to $4 trillion in deficit cuts over the next decade, a move that would require putting Social Security, Medicare, defense spending and tax reform on the table as part of a balanced approach to cuts, Democratic officials familiar with the negotiations told CNN.

The officials, speaking on condition of anonymity, did not say what types of cuts would have to be considered under such a proposal. In the past, one Social Security adjustment debt negotiators have discussed is cost-of-living.