House Democrats seek large deficit plan

Reuters News
Posted: Jul 15, 2011 11:09 AM
House Democrats seek large deficit plan

WASHINGTON (Reuters) - House Democratic Leader Nancy Pelosi said on Friday she hopes talks between President Barack Obama and congressional leaders on raising the $14.3 trillion U.S. debt limit will result in a large deficit reduction plan.

"We support our president for the grand bargain," Pelosi said at a news conference. "We hope that can still happen."

She said Democrats would not support cuts to the Medicare health plan and Social Security retirement benefits to reduce deficits but would consider changes to strengthen those programs.

(Reporting by Donna Smith; Editing by Bill Trott)