Obama tries to woo Republicans with cuts in budget

<div id="mediaarticlebody"><p class="first">WASHINGTON (Reuters) - President <span class="yshortcuts" id="lw_1365142266846_1">Barack Obama</span> will offer cuts to <span class="yshortcuts" id="lw_1365142266846_2">Social Security</span> and other <span class="yshortcuts" id="lw_1365142266846_3">entitlement programs</span> in a <span class="yshortcuts" id="lw_1365142266846_7">budget proposal</span> aimed at swaying Republicans to compromise on a <span class="yshortcuts" id="lw_1365142266846_6">deficit reduction</span> deal to put the country's finances on a sounder footing, a <span class="yshortcuts" id="lw_1365142266846_4">senior administration official</span> said on Friday.</p><p>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 <span class="yshortcuts" id="lw_1365142266846_5">Social Security program</span> for retirees.</p><p><span class="yshortcuts" id="lw_1365142266846_8">Obama</span> would agree to cuts to other so-called entitlement programs, the official said.</p><p>But the president will only accept these spending cuts if <span class="yshortcuts" id="lw_1365142266846_9">congressional Republicans</span>, for their part, agree to higher taxes, the official added. The president's budget proposal, due to be laid out in full on Wednesday, would cut the deficit by $1.8 trillion over ten years, the aide said.</p><p>(Reporting By Mark Felsenthal; Editing by David Brunnstrom)</p></div><img border="0" height="1" src="http://pixel.quantserve.com/pixel/p-89EKCgBk8MZdE.gif" width="1" /><br /><p><a href="http://news.yahoo.com/obama-budget-offer-program-cuts-seek-deficit-deal-060835057--business.html" rel="nofollow" target="_blank">View the original article here</a></p>

Obama tries to woo Republicans with cuts in budget

WASHINGTON (Reuters) - President Barack Obama will offer cuts to Social Security and other entitlement programs in a budget proposal ai...

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