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 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.

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 …

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 Vows To Veto Medicare Cuts If Unmatched By Tax Hikes  —  Plans are a dime a dozen in Washington these days.  What really counts is leverage and threats.  That's something Republicans have been very clear on, while the White House has always been wishy-washy.

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 …