WASHINGTON — The outlines of a deal that would allow the United States to avert a debt default emerged on Thursday as top Republican and Democratic lawmakers held their first meeting aimed at cutting the bloated U.S. deficit. Republicans edged toward a White House plan that would cut some spending now and set long-term deficit reduction targets, but said more difficult decisions on taxes and healthcare spending would have to wait until after the 2012 election.
A top Republican lawmaker, Paul Ryan, said there would be no immediate "grand slam" agreement on tackling the budget deficit, expected to reach $1.4 trillion this year and a major worry for Americans and investors.
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