Sentence examples for a broad deficit from inspiring English sources
WASHINGTON — Negotiations over a broad deficit reduction plan collapsed in acrimony on Friday after Speaker John A. Boehner suddenly broke off talks with President Obama, raising the risk of an economy-shaking default.
Democrats — and some Republicans — hoped the demise of the Boehner backup plan will usher in a last and final round of negotiations between the speaker and President Obama over a broad deficit reduction deal that raises more than $1 trillion in taxes over 10 years while locking in another $1 trillion in savings from entitlements like Medicare and other federal programs.
It also would order House committees to draft cuts in projected deficits worth $261 billion in order to head off automatic cuts to the military that would otherwise take place next year in the absence of a broad deficit reduction plan, which Congress was unable to agree upon last year.
Representative Paul D. Ryan of Wisconsin, chairman of the House Budget Committee, has initiated conversations with senior House Republicans on a broad deficit reduction deal that would allow some increases to federal programs squeezed by the automatic cuts known as sequestration in exchange for long-term changes to programs like Medicare and Social Security.
With his "Plan B" all but dead, the speaker was left with the choice to find a new Republican way forward or to try to get a broad deficit reduction deal with President Obama that could win passage with Republican and Democratic votes.
The budget orders six House committees to draft plans to cut the deficit by $261 billion by early May to help avert automatic cuts to the military that will take place under last summer's agreement unless a broad deficit reduction plan is passed.
Mr. Boehner pledged to continue negotiating on a broad deficit-reduction deal but called the president's plan unbalanced and insufficient.
They say the White House proposal came as part of a broad deficit-reduction plan that included tax increases on the wealthy.
WASHINGTON — With the clock ticking down, President Obama and Congressional leaders began a final effort to forge a broad deficit-reduction plan even as new cracks appeared among House Republicans over how to proceed.
WASHINGTON — President Obama stepped up pressure on Congressional Republicans on Tuesday to agree to a broad deficit-cutting deal, pledging to put popular entitlement programs like Medicare on the table in return for Republican acquiescence to some higher taxes.
WASHINGTON — Hopes for a broad deficit-reduction agreement faded on Wednesday as President Obama insisted he had offered Republicans "a fair deal" while Speaker John A. Boehner moved for a House vote as early as Thursday on a scaled-down plan to limit tax increases to yearly incomes of $1 million and up, despite Senate opposition and Mr. Obama's veto threat.
