"Are we a nation that asks only the middle class and the poor to bear the burden after they've seen their jobs disappear and their incomes decline over a decade?," Obama asked a supportive crowd at a National Council of La Raza conference.
Obama again promoted what he called a "balanced" plan as he and aides wait to see what House and Senate members do about debt negotiations that are currently stalled.
The parties are trying to raise the nation's $14.3 trillion debt ceiling -- while reducing debt in the years ahead -- by Aug. 2, the day the Treasury Department says it may have to default on some of the nation's bills.
"Before we ask seniors to pay more for Medicare, we should ask people like me to give up tax breaks that we don't need and weren't even asking for," Obama said.
According to Obama, the U.S. must address its debt problems, because repayment is crowding out necessary government investments, such as in education, adding that he's willing to cut spending -- even to programs he supports -- but "we can't just close our deficits by cutting spending."
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