Wall Street Journal (11/05/13) Peter Nicholas; Damian Paletta
President Obama’s top economic adviser says that the White House will not try to dictate the shape of a possible deal to avert a set of looming across-the-board spending cuts, but he advised against taking steps that cut the deficit too quickly and could imperil the recovery. Jason Furman, chair of the White House’s Council of Economic Advisers, says the Obama administration would like to see the sequester replaced by eliminating tax loopholes along with other spending reductions. Furman says that while the administration prefers tax increases as part of any deal, it is up to Democrats and Republicans to reach an agreement ahead of a deadline next month.
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