WASHINGTON (AP) — President Barack Obama's proposed budget will call for reductions in in the growth of Social Security and other benefit programs by including a proposal to lower cost-of-living adjustments to government social safety net spending, a senior administration official says. The proposal attempts to strike a compromise with congressional Republicans on the Fiscal 2014 budget by combining the president's demand for higher taxes with GOP insistence on reductions in entitlement programs.
Obama's New Budget Will Contain The Infamous 'chained Cpi'
Jim Kuhnhenn, Business Insider
Fri, 04/05/2013 - 5:02am
Topics: washington ap president barack obama social fiscal gop oct chained cpi this white house republican-controlled house democratic-run senate house republicans house speaker john boehner congress democrats copyright 2013 associated politics twitter facebook ap obama security republicans boehner americans press budget programs proposal tax reductions material years including federal broadcast government called limits growth billion wealthy taxpayers taxes redistributed generate safety net spending released official benefit higher inflation reduce plan revenue year portion deficit published thereof annual trillion increases adjustment offer rewritten affect
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