WASHINGTON -- President Barack Obama will veto a comprehensive deficit reduction package if it includes cuts to entitlement program benefits but no tax hikes on the wealthy or well-to-do corporations, senior advisers said on Sunday.
The veto threat is an addendum of sorts to a $3 trillion-plus set of deficit reduction proposals that the White House will make to the congressional super committee tasked with comprehensive deficit reduction. But if administration officials are to be believed, it is now a principle by which the committee must act and it raises the specter of gridlock.
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