Obama and Boehner Move Toward Deal

President Obama and House Speaker John Boehner may be nearing a deal on raising the debt ceiling, but neither of their parties are happy about it. The package under discussion would save $3 trillion through spending cuts and future revenue from a tax-code overhaul. Democrats are angry that the proposal seems to violate their pledge not to cut Social Security and Medicare, and that the plan concedes deep spending cuts without getting any tax concessions from the rich. House Republicans were also less than pleased.