President Obama poses for photographers in the Blue Room at the White House in Washington after he spoke regarding the budget and averted government shutdown after a deal was made between Republican and Democrat lawmakers, Friday, April 8, 2011. (AP Photo/Charles Dharapak) (AP)
White House: Obama to lay out spending plan
President will unveil plans this week for long-term deficit reduction
A top White House political and economic adviser says President Obama will lay out new plans this week to reduce the federal deficit.
Obama adviser David Plouffe, speaking Sunday on NBC's "Meet the Press," says Obama plans to offer ideas for what Plouffe calls "long-term deficit reduction" as Congress begins to debate raising the nation's debt ceiling.
Plouffe is giving few specifics on what Obama will announce, but he says that the president believes taxes should go up on higher-income Americans. He also says that the Republican budget plan offered this week by congressman Paul Ryan of Wisconsin may pass the House but won't become law.
Ryan's plan would repeal Obama's signature health care reform and make significant changes to Medicare and Medicaid.