It starts with the significant number of Republicans in the Senate — possibly as many 20 — who think what’s going on is foolish and counterproductive. The White House is betting that enough GOP senators are prepared to make a deal along lines that President Obama has already put forward.

Obama’s lieutenants argue that, while Republicans are aware that the president is seeking new revenue through tax reform, many did not fully grasp the extent to which he has offered significant long-term spending cuts. These include reductions in Medicare and a willingness (to the consternation of many Democrats) to alter the index that determines Social Security increases. Obama has proposed $930 billion in cuts to get $580 billion in revenues.

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