Now that the dust has begun to settle from Friday night’s dash to the finish line to reach a short-term budget agreement, President Obama is set to lay out a long-term spending plan this week.
From the AP:
WASHINGTON (AP) -- President Barack Obama and Congress are shifting from short-term budget concerns to debates over the nation's long-term economic future, and everything - from Medicare and Medicaid cuts to tax hikes for the wealthy - is on the table.
In addition to calling for higher taxes for those earning more than $250,000 per year, the Wall Street Journal reports that the president has his sights on "changing parts of the tax code he thinks benefit the wealthy."
Much will be revealed at midweek, when the House and Senate are expected to vote on a budget for the remainder of this fiscal year and Obama unveils his plan to reduce the deficit, in part by scaling back the government's chief health programs for seniors and the poor. The House, too, may vote on Budget Committee Chairman Paul Ryan's spending plan for next year as Democrats readied arguments that it proposed "Draconian" cuts to Americans who need help the most.
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