Obama seeks tax hike, higher Medicare payments (CNN)
President Obama will ask wealthy Americans to deal with a tax increase and pay higher Medicare premiums to help fund a $634 billion health care "reserve fund" aimed at reforming the system, according to senior administration officials familiar with the budget being unveiled Thursday.

Obama unveils multi-trillion-dollar spending plan that hikes taxes on rich, curtail Medicare (Minneapolis-St. Paul Star Tribune)
WASHINGTON - President Barack Obama unveiled a multi-trillion-dollar spending plan Thursday that would boost taxes on the wealthy, curtail Medicare, lay the groundwork for universal health care and leave a string of deficits dwarfing any in the nation's history.

Obama plan foresees record $1.75 trillion deficit (The Pantagraph)
WASHINGTON, D.C. -- Pledging a new era of responsibility, President Barack Obama unveiled a multi-trillion-dollar spending plan Thursday that would boost taxes on the wealthy, curtail Medicare, lay the groundwork for universal health care and leave a string of deficits dwarfing any in the nation s history.