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Barack Obama hopes to trim 'yawning deficit'

From telegraph.co.uk

Obama joined his call for a tax increase with a threat to veto any legislation Congress sends him that would reduce benefits from the Medicare health-insurance plan for the elderly unless wealthy Americans also face higher taxes. “This is not class warfare, it’s math,” Obama said at the White House as he unveiled his recommendations to a 12-member congressional committee charged with finding ways to trim at least $1.5 trillion from the deficit. “The money’s going to have to come from someplace.” The stance places Obama in conflict with Republican congressional leaders such as House Speaker John Boehner, who last week ... (full story)

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