Obama calls meeting with leaders 'constructive' - Medicare cuts put on hold

http://www.benefitspro.com/2011/07/07/obama-calls-meeting-with-leaders-constructive


WASHINGTON (AP) — President Barack Obama declared a debt-crisis session Thursday with congressional leaders was "very constructive" but said the parties were still far apart on deficit reduction proposals. He said he would reconvene the negotiators on Sunday.

Thursday's meeting came amid signals that the White House was willing to reduce costs for major benefit programs including Social Security and Medicare, while Republicans indicated they might consider new steps to raise government revenue.

"People were frank," Obama said, just moments after adjourning the one-and-a-half hour meeting with the eight lawmakers who make up the bipartisan leadership of Congress.
Obama acknowledged that the ultimate agreement will not satisfy partisans on both sides, but he said the deal would require both Republican and Democratic votes to pass Congress.
"Everyone acknowledged that pain will be involved politically on all sides," he said.