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Obama proposes Social Security cuts in 2014 budget

President Barack Obama has released his fiscal 2014 budget proposal and much to the dismay of his own party, it includes cuts to Social Security. Initially thought to be a Republican attack on entitlements during the partisan 2011 debt ceiling “grand bargain” debate, Social Security cuts now seem to be Obama’s idea. The president’s fiscal 2014 budget plan would replace the way current Social Security and disability cost of living (COLA) increases are calculated, replacing them with a chained Consumer Price Index (CPI). The result would reduce Social Security, and disability payments and would get substantially larger over time. Read more…

 

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