Washington (CNN) -- President Barack Obama is seeking $3 trillion to $4 trillion in deficit cuts over the next decade, a move that would require putting Social Security, Medicare, defense spending and tax reform on the table as part of a balanced approach to cuts, Democratic officials familiar with the negotiations told CNN. The officials, speaking on condition of anonymity, did not say what types of cuts would have to be considered under such a proposal. In the past, one Social Security adjustment debt negotiators have discussed is cost-of-living.
The news comes as top Republican and Democratic congressional leaders head to the White House Thursday to negotiate a deal to tackle mounting deficits and allow an increase in the federal debt ceiling.
The House returned to work Wednesday from its Fourth of July break, a day after the Senate cut short its recess to come back to Washington. Democrats and Republicans are at sharp odds over what sort of conditions should be attached to a hike in the current $14.3 trillion debt ceiling.
A congressional aide, close to the negotiations, said the only real talks going on are between Obama and House Speaker John Boehner, who are discussing "in good faith" a $4 to $5 trillion debt reduction package.
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