Skip to content
Subscriber Only

Obama Said to Call for Curbing Entitlements, Raising Taxes

President Barack Obama today will outline a path to cutting the nation’s long-term debt through reductions in entitlement spending and increased taxes on the wealthy while seeking to draw a sharp contrast with Republican proposals, according to a person familiar with the plan.

Obama’s approach will draw on the findings of the Simpson-Bowles debt commission chairmen, including overhauling the tax code to bring in more revenue, and proposals he has already set out in his 2012 budget. The president also will try to align his approach with the so-called Gang of Six, a group of three Republican and three Democratic senators working on their own fiscal recommendations, the person said.