Obama To Propose Social Security Cuts

Maybe now that the sequester is starting to bite, Congress can pass a budget. Administration officials say President Obama will send a new proposal to Capitol Hill next week that includes cuts to Social Security and Medicare, an attempt to win over deficit-focused Republicans. The plan looks a lot like the final compromise Obama reached with John Boehner last year before the speaker rejected the president’s demand for higher taxes. The proposal does include some things on the Democratic wish list, such as money for universal prekindergarten education raised by taxing cigarettes. The White House will unveil the budget plan Wednesday, shortly before Obama dines with a dozen Senate Republicans.