Content Section
Stubborn GOP Digs in on Debt Talks Brendan Smialowski / Getty Images

GOP Digs in on Debt Talks

President Obama offered up another Democratic sacred cow in Monday’s debt talks, but Republicans still wouldn’t budge from their anti-tax stance. According to The Washington Post, Obama threw an offer to raise the Medicare eligibility age on top of previous offers to slash Social Security and Medicare benefits. Still, Republicans continued to reject his $4 trillion deal in favor of a $2.4 trillion deal that would not raise taxes on the richest Americans. That $2.4 trillion is the minimum figure of the U.S. needs to raise the debt ceiling by; still, Democrats and Republicans can only agree on $1.7 trillion in cuts. Democrats want the remaining $700 billion to come, in part, through new tax revenues, while Republicans want additional spending cuts, according to ABC News.

July 12, 2011 6:10 AM