Entitlement cuts are "on the table" as it were, they are part of what the commission that deals with the larger cuts in Dec. ($1.5T) will be taking up.
Here's what I wrote in another thread:
So, the Bush tax cuts are also used as an incentive for the commission to come up with a balanced approach (taxes and entitlement reforms.)
Seems the President can let Bush tax cuts for the rich expire if the commission doesn't come up with an acceptable "balanced" plan.
This is the most interesting section IMO:
- The Deal Sets the Stage for Balanced Deficit Reduction, Consistent with the President’s Values: The deal is designed to achieve balanced deficit reduction, consistent with the values the President articulated in his April Fiscal Framework. The discretionary savings are spread between both domestic and defense spending. And the President will demand that the Committee pursue a balanced deficit reduction package, where any entitlement reforms are coupled with revenue-raising tax reform that asks for the most fortunate Americans to sacrifice.
- The Enforcement Mechanism Complements the Forcing Event Already In Law – the Expiration of the Bush Tax Cuts – To Create Pressure for a Balanced Deal: The Bush tax cuts expire as of 1/1/2013, the same date that the spending sequester would go into effect. These two events together will force balanced deficit reduction. Absent a balanced deal, it would enable the President to use his veto pen to ensure nearly $1 trillion in additional deficit reduction by not extending the high-income tax cuts.
A "balanced" deal is one that involves both tax increases and deals with entitlement reforms - whatever that entails.