New Obama Budget Cuts Social Security Checks; Minimum Wage $9
WASHINGTON, DC – President Barack Obama’s budget plan is drawing criticism from some democrats. Progressives are howling the president’s budget is a document only republicans could love. They’re outraged the president proposes slashing $400 billion from medicare over the next 10 years and changing the formula for social security. Checks could fall by $45 the first year then by $100’s of dollars down the line.
In the 2008 campaign then candidate Obama pledged, “Now’s the time to protect Social Security for future generations.”
Now, some democrats feel betrayed. The administration acknowledges the president borrowed republican ideas. The change to social security is a proposal that emanated from republican leaders.
Democrats should not be surprised. This is not a new priority for the president. Right after he took office in 2009 he held a summit about cutting the deficit. He didn’t prioritize this agenda thanks to the financial crisis and the political considerations of a re-election, until recently.
So, now he’s pressing it again but he’s hardly gone over to the other side. The budget is filled with big ticket poverty fighting programs. Pre-K education for all kids, price tag $75 billion dollars over ten years. Job training and on-ramps to work for the unemployed, 12.5 billion over ten years.
He even proposes increasing the minimum wage from 7.25 to 9 dollars an hour; all government initiatives that usually would make democrats cheer.
By: Jessica Yellin – CNN