Obama announces Social Security Cuts in Deficit Reduction Deal

President Barack Obama is raising the stakes in the ongoing talks to raise the debt ceiling and lower the deficit — proposing $4 trillion in cuts over the next decade, including reductions to Social Security, The Washington Post is reporting.

Obama has already indicated he would support cuts to the "delivery-side" of Medicare and Medicaid as long as Republicans agree to new revenues, but including Social Security in the deal will be tough for many Democrats to stomach.

President Obama is pressing congressional leaders to consider a far-reaching debt-reduction plan that would force Democrats to accept major changes to Social Security and Medicare in exchange for Republican support for fresh tax revenue.

At a meeting with top House and Senate leaders set for Thursday morning, Obama plans to argue that a rare consensus has emerged about the size and scope of the nation’s budget problems and that policymakers should seize the moment to take dramatic action.

As part of his pitch, Obama is proposing significant reductions in Medicare spending and for the first time is offering to tackle the rising cost of Social Security, according to people in both parties with knowledge of the proposal. The move marks a major shift for the White House and could present a direct challenge to Democratic lawmakers who have vowed to protect health and retirement benefits from the assault on government spending.

exhaustedandtired/1208 wrote:Hey I got it Obama!! Why not tax the unemployed and call it a unemployment tax. If your unemployed make us pay taxes..Then you can offset that by lowering the tax rate for the rich! Boy , you are a sure winner from both sides...

DesperateInRI wrote:If he goes through with the cuts, he is going to lose even the backing of the Dems in the Senate. They are not happy about this at all - it will be the end of their political careers.

They have stolen my mid-life years by creating the mess the economy is in, robbing me of my retirement savings, no job so I'm not paying into Social Security and now I will not have anything better to look forward to. I won't even be able to think of retiring if I ever find a job again.

TOO OLD TO HIRE IN PA wrote:

DesperateInRI wrote:If he goes through with the cuts, he is going to lose even the backing of the Dems in the Senate. They are not happy about this at all - it will be the end of their political careers.

They have stolen my mid-life years by creating the mess the economy is in, robbing me of my retirement savings, no job so I'm not paying into Social Security and now I will not have anything better to look forward to. I won't even be able to think of retiring if I ever find a job again.

So very well said and my sentiments exactly.

JoanB wrote:

exhaustedandtired/1208 wrote:Hey I got it Obama!! Why not tax the unemployed and call it a unemployment tax. If your unemployed make us pay taxes..Then you can offset that by lowering the tax rate for the rich! Boy , you are a sure winner from both sides...

Reagan beat him to that idea. UC wasn't taxed until the 80s. But this really sucks too if it's true.

exhaustedandtired/1208 wrote:

JoanB wrote:

exhaustedandtired/1208 wrote:Hey I got it Obama!! Why not tax the unemployed and call it a unemployment tax. If your unemployed make us pay taxes..Then you can offset that by lowering the tax rate for the rich! Boy , you are a sure winner from both sides...

Reagan beat him to that idea. UC wasn't taxed until the 80s. But this really sucks too if it's true.

Reagans dead but I am sure Obama will come up with the idea to tax the unemployed off benefits!!! Get it!!! OFF! Out, nada 99er!!!

Redpossum wrote:This is flat-out treason. The President has betrayed us, sold us out to our enemies,*moderated*

gettheminNOVEMBER wrote:

exhaustedandtired/1208 wrote:

JoanB wrote:

exhaustedandtired/1208 wrote:Hey I got it Obama!! Why not tax the unemployed and call it a unemployment tax. If your unemployed make us pay taxes..Then you can offset that by lowering the tax rate for the rich! Boy , you are a sure winner from both sides...

Reagan beat him to that idea. UC wasn't taxed until the 80s. But this really sucks too if it's true.

Reagans dead but I am sure Obama will come up with the idea to tax the unemployed off benefits!!! Get it!!! OFF! Out, nada 99er!!!

Funny 1208 how you MINDLESSLY blame Obama when its the RIGHT with YOUR state SENATOR Mitch wanting the cuts. BY THE WAY OBAMA IS NOT CAVING.

http://www.huffingtonpost.com/2011/07/07/social-security-cuts-debt_n_892070.html

ITS THE FRIGGEN RIGHT THAT WANTS TO MAKE THE CUTS DAMMIT I AM TIRED OF THIS BS BLAME OBAMA BULLSHITE!

exhaustedandtired/1208 wrote:

gettheminNOVEMBER wrote:

exhaustedandtired/1208 wrote:

JoanB wrote:

exhaustedandtired/1208 wrote:Hey I got it Obama!! Why not tax the unemployed and call it a unemployment tax. If your unemployed make us pay taxes..Then you can offset that by lowering the tax rate for the rich! Boy , you are a sure winner from both sides...

Reagan beat him to that idea. UC wasn't taxed until the 80s. But this really sucks too if it's true.

Reagans dead but I am sure Obama will come up with the idea to tax the unemployed off benefits!!! Get it!!! OFF! Out, nada 99er!!!

Funny 1208 how you MINDLESSLY blame Obama when its the RIGHT with YOUR state SENATOR Mitch wanting the cuts. BY THE WAY OBAMA IS NOT CAVING.

http://www.huffingtonpost.com/2011/07/07/social-security-cuts-debt_n_892070.html

ITS THE FRIGGEN RIGHT THAT WANTS TO MAKE THE CUTS DAMMIT I AM TIRED OF THIS BS BLAME OBAMA BULLSHITE!

wait til this is over and we'll see! I think I'll stick with my intuition~

gettheminNOVEMBER wrote:

Redpossum wrote:This is flat-out treason. The President has betrayed us, sold us out to our enemies,*moderated*

How about blaming the RIGHT, THE REAL ENEMY and put them in front of a firing SQUAD???

I know its all Obama fault. keep buying that BS. We should change your name to BLUEpossun since you are a Democrat?

gettheminNOVEMBER wrote:

Redpossum wrote:This is flat-out treason. The President has betrayed us, sold us out to our enemies,*moderated*

How about blaming the RIGHT, THE REAL ENEMY and put them in front of a firing SQUAD???

I know its all Obama fault. keep buying that BS. We should change your name to BLUEpossun since you are a Democrat?

stansmad wrote:

gettheminNOVEMBER wrote:

Redpossum wrote:This is flat-out treason. The President has betrayed us, sold us out to our enemies,*moderated*

How about blaming the RIGHT, THE REAL ENEMY and put them in front of a firing SQUAD???

I know its all Obama fault. keep buying that BS. We should change your name to BLUEpossun since you are a Democrat?

Put people if front of a firing squad ? Did not alot of you blame all republicans and the "baggers" along with Palin for the shooting of Gabby Gifford BECAUSE OF THIS EXACT TYPE OF RHETORIC ? Obama will FOLD because it is in his history to. You can back him all you feel like but he has shown his true colors.