WASHINGTON — President Barack Obama and the Senate’s top Republican both declared Friday that they want to take on the huge entitlement programs driving America’s long-term deficits — but their lines of attack differ sharply, and that could lead to a showdown over government borrowing.
Senate Republican Minority Leader Mitch McConnell warned that GOP senators would not vote to increase the federal debt limit unless Obama agreed to significant long-term budget savings that could include cost curbs for Social Security, Medicare and Medicaid.
Obama said he also wants to tackle military spending and tax loopholes — issues on which he can expect GOP opposition.
The president said at a news conference that he would be ready to dig into the nation’s long-term financial problems after he and lawmakers reach a deal on funding the government through September. Republicans and Democrats have been debating a short-term funding plan for weeks but are still far apart.
Congress is expected to approve a three-week stopgap measure next week to buy more time for negotiations on a longer-term bill. The bipartisan measure contains $6.1 billion in budget savings by rescinding unneeded money from the Census Bureau and other accounts, killing programs proposed for termination by Obama and emptying accounts set aside for earmarks.
The short-term spending plan involves day-to-day operating budgets — not major benefit programs such as Medicare, Medicaid and Social Security that are seen by most budget experts as long-term contributors to the nation’s spiraling debt.
The three programs will make up more than 40 percent of federal spending next year. If left unchecked, they will grow to more than 60 percent of federal spending by 2035, when baby boomers will be at least 70.
“I think it’s very important, when we think about the budget, to understand that our long-term debt and deficits are not caused by us having Head Start teachers in the classroom,” Obama said.
