[An Nahar] President Barack ObamaReady to Rule from Day One...
will make key concessions to Republican foes next week when he unveils his U.S. budget that proposes cuts to cherished entitlement programs, the White House said Friday.
Obama's fiscal blueprint slashes the deficit by $1.8 trillion over 10 years, in what a senior administration official described as a "compromise offer" that cuts federal spending, finds savings in Social Security and raises tax revenue from the wealthy.
Republicans led by House Speaker John
It is not pronounced 'Boner!'Boehner
... the occasionally weepy leader of House Republicans...
are opposed to new tax hikes, after the president secured $600 billion in increased tax revenue in a year-end deal.
Boehner's party controls the House of Representatives, and passage of the president's budget is unlikely if it contains new tax revenue provisions.
But Obama's concession to conservatives in the form of reduced cost-of-living payouts for Social Security benefits could revive consideration of a deficit-reducing "grand bargain" that has proved elusive in recent years.