Policy: Economy

Wall Street Journal: Furman: White House to Give Congress Wide Berth on Budget

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A top White House official said Monday that the Obama administration would not draw lines in the sand yet as congressional budget negotiators try to determine how to replace across-the-board spending cuts, deferring to lawmakers as talks face a deadline next month.

Jason Furman, chairman of the White House’s Council of Economic Advisers, said the Obama administration would prefer to replace spending cuts known as the “sequester” with the elimination of tax loopholes and other cuts. But he said the White House would not dictate the shape of any possible deal at this point.

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