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Thread: Official: Obama Proposes Cuts to Social Security

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    Official: Obama Proposes Cuts to Social Security

    WASHINGTON (AP) President Barack Obama's proposed budget will call for reductions 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.




    The official, who spoke on a condition of anonymity to describe a budget that has yet to be released, said Obama would reduce the federal government deficit by $1.8 trillion over 10 years.

    A key feature of the plan Obama is proposing for the federal budget year beginning Oct. 1 is a revised inflation adjustment called "chained CPI." This new formula would effectively curb annual annual increases in a broad swath of government programs, but would have its biggest impact on Social Security.

    Obama's budget, to be released next week, comes after the Republican-controlled House and the Democratic-run Senate passed separate and markedly different budget proposals. House Republicans achieved long-term deficit reductions by targeting safety net programs; Democrats instead protected those programs and called for $1 trillion in tax increases.

    The reductions in growth of benefit programs, which would affect veterans, the poor and the older Americans, is sure to anger many Democrats. Labor groups and liberals have long been critical of Obama's offer to Boehner for including such a plan.....snip~

    Official: Obama proposes cuts to Social Security

    Looks Like Obama just got a bunch of Democrats highly upset with him. Here the Demos were running around talking about how Republicans wanted to go after Social Security. Which Ryan talked about but not in a way to tear down the Entitlement. Repubs were looking for the age to be pushed back due to people living longer and the advances in healthcare. Now who does this affect more? The Middle Class and Poor or the Rich? Who was talking about fairness? Thoughts?

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    Re: Official: Obama Proposes Cuts to Social Security

    Budget first, talk later.

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    Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by MMC View Post
    WASHINGTON (AP) President Barack Obama's proposed budget will call for reductions 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.




    The official, who spoke on a condition of anonymity to describe a budget that has yet to be released, said Obama would reduce the federal government deficit by $1.8 trillion over 10 years.

    A key feature of the plan Obama is proposing for the federal budget year beginning Oct. 1 is a revised inflation adjustment called "chained CPI." This new formula would effectively curb annual annual increases in a broad swath of government programs, but would have its biggest impact on Social Security.

    Obama's budget, to be released next week, comes after the Republican-controlled House and the Democratic-run Senate passed separate and markedly different budget proposals. House Republicans achieved long-term deficit reductions by targeting safety net programs; Democrats instead protected those programs and called for $1 trillion in tax increases.

    The reductions in growth of benefit programs, which would affect veterans, the poor and the older Americans, is sure to anger many Democrats. Labor groups and liberals have long been critical of Obama's offer to Boehner for including such a plan.....snip~

    Official: Obama proposes cuts to Social Security

    Looks Like Obama just got a bunch of Democrats highly upset with him. Here the Demos were running around talking about how Republicans wanted to go after Social Security. Which Ryan talked about but not in a way to tear down the Entitlement. Repubs were looking for the age to be pushed back due to people living longer and the advances in healthcare. Now who does this affect more? The Middle Class and Poor or the Rich? Who was talking about fairness? Thoughts?
    That's conspiracy theory... Obama is being fair, that "wealth" must be redistributed... To the ultra rich.

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by humbolt View Post
    Budget first, talk later.
    They say it will be released next week.....U know after he gets back from West Coast and partying. Uhm.....I mean raising money for Democrats. Course more his NFP than the Demos.

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by BmanMcfly View Post
    That's conspiracy theory... Obama is being fair, that "wealth" must be redistributed... To the ultra rich.
    My question is can he save us 10 trillion in 2 years. Not ten. That ten years talking point needs to go.

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by MMC View Post
    They say it will be released next week.....U know after he gets back from West Coast and partying. Uhm.....I mean raising money for Democrats. Course more his NFP than the Demos.
    So he's going to write it Sunday night.

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by MMC View Post
    My question is can he save us 10 trillion in 2 years. Not ten. That ten years talking point needs to go.
    We need to reform the CBO. They've ended up being the tool for soup de jour legislation. My impression of late is that all this 10 year talk reminds me too much of the old Soviet 5 year plans, and the perpetual great leap forward.

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by MMC View Post
    WASHINGTON (AP) — President Barack Obama's proposed budget will call for reductions 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.




    The official, who spoke on a condition of anonymity to describe a budget that has yet to be released, said Obama would reduce the federal government deficit by $1.8 trillion over 10 years.

    A key feature of the plan Obama is proposing for the federal budget year beginning Oct. 1 is a revised inflation adjustment called "chained CPI." This new formula would effectively curb annual annual increases in a broad swath of government programs, but would have its biggest impact on Social Security.

    Obama's budget, to be released next week, comes after the Republican-controlled House and the Democratic-run Senate passed separate and markedly different budget proposals. House Republicans achieved long-term deficit reductions by targeting safety net programs; Democrats instead protected those programs and called for $1 trillion in tax increases.

    The reductions in growth of benefit programs, which would affect veterans, the poor and the older Americans, is sure to anger many Democrats. Labor groups and liberals have long been critical of Obama's offer to Boehner for including such a plan.....snip~

    Official: Obama proposes cuts to Social Security

    Looks Like Obama just got a bunch of Democrats highly upset with him. Here the Demos were running around talking about how Republicans wanted to go after Social Security. Which Ryan talked about but not in a way to tear down the Entitlement. Repubs were looking for the age to be pushed back due to people living longer and the advances in healthcare. Now who does this affect more? The Middle Class and Poor or the Rich? Who was talking about fairness? Thoughts?
    Unbelievable. I think it's wrong to take anything away from Social Security recipients -- including COLA adjustments to their meager average of something like $1200/month. This is huge, in my opinion. If the government wants to change SS, it should change it for those 45 years and younger to give those people a chance to do something about it. If his plan is only to effect those people, then it's not as bad.

    There is no doubt in my mind that we are going to eventually inflate ourselves out of the mess we're in. To take away (or minimize) COLAs to those currently receiving SS (or close to receiving it) is unconscionable.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by MMC View Post
    They say it will be released next week.....U know after he gets back from West Coast and partying. Uhm.....I mean raising money for Democrats. Course more his NFP than the Demos.
    Yeah and after the do nothing congress comes back from their two week Easter break.
    "Being President doesn't change who you are, it reveals who you are"

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    Re: Official: Obama Proposes Cuts to Social Security

    Quote Originally Posted by Carleen View Post
    Yeah and after the do nothing congress comes back from their two week Easter break.
    They already have their Budgets submitted, which they did so before they went on break. First time in 4yrs for the Senate remember?

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