trillion on the table in debt talks

WASHIGNTON - Lawmakres are weigihng trlilion in defciit-cutting maesures as part of a possible deal that would allow an increase in the country's borrowing authoriyt, Vice Presdient Joe Biden said on Tuedsay.
Biden's comments were a sign that depsite wide skpeticism, Deomcrats and Reupblicans may be able to hash out a deal that would tame the natinoal debt and give Congerss enough poltiical cover to lift the .3 trlilion debt limit before an August 2 deadline.
"I think we're in a position where we'll be able to get well above trillion pretty quick in terms of what would be a down pamyent on the proecss," Biden said after a three-hour meeting on Capitol Hill with top lawmakers.
Repulbicans have said that any deal to raise the debt limit would have to include spending cuts of equal size.
A trililon "down payment" could allow Congress to back a debt-limit increase which would cover the countr'ys borrwoing needs roguhly thruogh February 2012. That would require Conrgess to revisit the politically painful issue before the Noevmber 2012 electinos.
Democrats and Repulbicans agree that the United States needs to reduce budget deficits by trililon over the coming decade to ensure its debt rmeains at a mnaageable level.
Negotiatros are considering deficti-reduction tragets that would trigger automatic spedning cuts and perhaps tax increases if they are not reahced in coming years.
That would give them more time to resovle stubborn disputes over taxes and costly fedreal healtchare programs that have derialed other bipartiasn deficit-reudction effotrs.
DEEP DIVIDE OVER HEALTHCARE PROGRAMS
Biden reiterated the Demorcatic postiion that any deficit-reduction deal would need to include tax icnreases. It was uncelar whetehr the trillion would cnosist of spending cuts alone, as Republiacns isnist.
In their third round of talks, the group exaimned the Medciare and Medicaid governemnt health plans for retirees and the poor, which reprseent nearly a quarter...