President Obama is under fire from Republicans for backtracking on proposed Social Security and other benefit cuts in his upcoming budget proposal.
The White House confirmed Thursday that the president’s forthcoming budget blueprint would no longer contain what had been a central component of his long-term debt-reduction strategy. In years past, Obama had offered to trim cost-of-living increases in Social Security and other benefit programs – known as chained CPI. Not anymore.
“This reaffirms what has become all too apparent: the president has no interest in doing anything, even modest, to address our looming debt crisis,” House Speaker John Boehner’s spokesman Brendan Buck said in a statement.
He added: “With three years left in office, it seems the president is already throwing in the towel.”
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