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(Image from article: "Obama, congressional leaders fail to break debt deadlock")

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Obama to propose "Buffett Tax" on millionaires

President Barack Obama, in a populist step designed to appeal to voters, will propose a "Buffett Tax" on people making more than $1 million a year as part of his deficit recommendations to Congress on Monday.

Obama, congressional leaders fail to break debt deadlock

President Obama continued to push for a $4-trillion deal to rein in government deficits Sunday, but a White House meeting with congressional leaders failed to break the deadlock over spending and taxes that has stalemated discussions for more than a month.

Obama Debt Commission: Erskine Bowles, Alan Simpson To Chair Panel, Says Obama Official

Determined to have a deficit commission with or without Congress' backing, President Barack Obama plans to announce on Thursday that he is establishing a panel similar to – although weaker than – the one lawmakers rejected.

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