Republicans offer new plan to White House House R

Republicans offer new plan to White House
House Republicans plan Saturday meeting; Senators work on own proposal
WASHINGTON (MarketWatch) — In a sign of progress in Washington’s fiscal standoff, House Republicans are proposing a new deal to the White House on raising the debt limit and re-opening the government.
The proposal would avert default and end the government shutdown in exchange for budget talks where Republicans would seek cuts to the Social Security and Medicare programs.

Separately, Senate Republicans are working on a proposal by Sen. Susan Collins of Maine that would keep the government open for as long as six months and give agencies flexibility to decide how to operate with less funding.

Talks between the White House and Republicans continued Friday. House Speaker John Boehner and President Barack Obama spoke by phone Friday afternoon, said spokesmen for the Ohio Republican and the president.

“They agreed that we should all keep talking,” said Boehner spokesman Michael Steel.

White House press secretary Jay Carney said Obama had “some concerns” about the House proposal. But he described the talks as “constructive.”

“The president appreciates the approach the speaker and others have taken,” Carney told reporters.

The House Republican conference is planning to gather for an unusual Saturday-morning meeting, an aide said. That meeting is set for 9 a.m. Eastern time. http://www.marketwatch.com/story/republicans-...atest_news