Obama's debt-reduction plan: $3 trillion in savings, half from new tax revenue  —  President Obama will announce a proposal on Monday to tame the nation's rocketing federal debt, calling for $1.5 trillion in new revenue as part of a plan to find more than $3 trillion in budget savings over a decade, senior administration officials said.

Obama Vows Veto if Deficit Plan Has No Tax Increases  —  WASHINGTON — President Obama called on Monday for Congress to adopt his “balanced” plan combining entitlement cuts, tax increases and war savings to reduce the federal deficit by more than $3 trillion over the next 10 years …

Obama Will Veto Super-Committee Plan That's All Medicare Cuts And No Tax Hikes … WASHINGTON — President Barack Obama will veto a comprehensive deficit reduction package if it includes cuts to entitlement program benefits but no tax hikes on the wealthy or well-to-do corporations, senior advisers said on Sunday.

Multi-Millionaire Rep. Says He Can't Afford A Tax Hike Because He Only Has $400K A Year After Feeding Family  —  Rep. John Fleming (R-LA) appeared on MSNBC with Chris Jansing this morning to attack President Obama's new deficit reduction plan, which includes some tax increases on the wealthy.

Obama Debt Reduction Plan a Sharp Pullback from Grand Bargain Territory  —  President Obama is scheduled to speak this morning at 10:30 a.m. Eastern, to spell out his debt reduction plan.  Some details from Obama's plan to “go big” on the Super Committee are out, and it's an opening bid …

The Tsuris  —  Barack Obama is the best thing Israel has going for it right now.  Why is that so difficult for Netanyahu and his American Jewish allies to understand?  —  The last time Barack Obama and Benjamin Netanyahu shared each other's company, you could say that the encounter did not go well …