Obama to offer Social Security cuts in new budget — in exchange for tax hikes

Hotair ^ | 04/05/2013 | Ed Morrissey

[turdhopper]

sticking it to the people who dont like him. again

[Vigilanteman]

AARP will still continue to kiss BO’s butt and tell seniors that they can make up the shortfall with AARP’s superb insurance programs.

[notaliberal]

Hey you POS-in-Chief, how about getting rid of free stuff to illegals and new immigrants who swore they would not be a burden to the American taxpayer.

[Da Coyote]

Shove it up your smelly Obama, Obama.

Only fools, idiots, and progressives are buying your act any more.

[Venturer]

There is a trap buried in here somewhere.

I am sure the GOP will be credited with screwing over the old folks.

[ladyjane]

At least they’re not going to cut welfare payments, EBT cards, subsidized housing or Obama phones. Aunt Zatootie and Uncle Obummer are relieved.

[SeekAndFind]

The man lies as usual.



Several programs, notably Social Security, which the White House said would be "cut" under President Obama's fiscal 2014 budget which he's finally unveiling next week would actually grow at close to the currently projected rates, according to experts.

Instead of the "cuts" heralded in headlines today, the president's budget writers are seizing on a formula that simply tweaks the rate of growth. While it could still significantly reduce the projected 10-year budget deficit, it won't cut anything from what seniors, veterans, students and others who rely on the programs get.

In fact, one Senate analysis reveals that the Obama "cut" will lower slightly the growth of Social Security benefits over the next 10 years to 5.9 percent from 6.1 percent.

Ditto for reports on the "cuts" to Medicare. The plan is to reduce future payments in the program to doctors and hospitals, though wealthier recipients might see higher premiums.

Reports today said that the president plans to switch how inflation is measured to account for cost of living increase to something called a "chained Consumer Price Index," which many feel more accurately figures inflation.

The nonpartisan Moment of Truth Project headed by Democrats Erskine Bowles and Alice Rivlin and Republican Alan Simpson issued a report just last month that said the chained C.P.I. won't cut spending, but instead will limit future growth.

"Since 2000, the chained C.P.I. has, on average, been 0.25 to 0.3 percentage points lower per year than the standard C.P.I. measures. Though this difference is small on average, it compounds over time; depending on which index you use, prices have either increased by 34 percent or 29 percent (chained C.P.I.) between 2000 and 2011. Over a longer time frame, this difference would become even more pronounced," their report said.

More bluntly, their report quoted Robert Greenstein of the Center for Budget and Policy Priorities, who said: "This change should not be regarded as a benefit cut or a tax increase. It should be regarded more as a technical change to achieve Congress's stated goal of keeping pace with inflation in as accurate a way as possible."

Plus, Obama would include financial protections for the poor and elderly, so they would be guaranteed from seeing any decreases.

Among the program spending increased tied to the C.P.I are Social Security, Obamacare, veterans benefits, Pell Grants, and taxes such as the alternative minimum tax.

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[rainee]

Yea!! it’s the old Charlie Brown/Lucy football show again!
I’m sure the budget has some cuts but then replaces w/tax hikes..

[manc]

my first thoughts was how about welfare, EBT where they can use at strip club, get beer and wine, pay for their car payments etc.
how about stopping illegals getting free education, welfare, food stamps, health care etc, nah hit the old people who worked but then again the old idiots which voted for this turd pusher agenda deserve everything they get or should I say don’t get .

The north east, are you taking note, , old supposed to be Catholics voting all the time for the Dem regime

[opentalk]

Take from senior US citizens that have been paying into social security their whole lives...transfer to new illegal democrats after both parties push amnesty through.

same pattern with Obamacare

[Noamie]

What a one-trick pony.

Embarrassing.

[SeekAndFind]

RE: Embarrassing.

He does not know the meaning of the word. Neither did Clinton.

[I want the USA back]

Oh but the media says that it’s the eeeevvvvviiiilllll Republicans who want to cut Medicare! Everybody knows the media wouldn’t lie.

< / is this necessary /s>

[ryan71]

Is the Republican leadership looking to cut SS? They need to go after plenty of other things like disability, food stamp and welfare and medicare fraud.

[opentalk]

Cuts to foreign aid, UN climate-change, state department us-aid are never considered ....prioritizing quality of life US citizens comes last.

Ben Carson is correct ....this administration /government has done nothing to make our nation stronger.

[JCBreckenridge]

Agreed, but all entitlements should be cut. Including SS. There simply aren’t enough young people working and the young people aren’t making enough to support the current benefits scheme.

[JCBreckenridge]

Apparently you like losing elections. The only time the GOP ever won an election is with Catholic support.

[Son House]

Boehner needs to respond in only a statement: How macroeconomics works—the more taken from the private sector, the smaller the private sector. The answer is no, this plan does not have the American Economy’s best interest in it. Record tax revenues are currently being collected, the spending needs to be managed. I, as Speaker of the House, will no longer join this failure.

[manc]

talking points on how to blame republican’s are going out to the corrupt lapdog media as I type I bet