White House promises $1.8 trillion in deficit reduction, although similar previous claims have been debunked
New method of measuring cost-of-living increases will lower benefit payouts and push middle-class earners into higher tax brackets
Speaker Boehner's spokesperson: 'Any deficit reduction will come exclusively from tax hikes'
Administration's formula depends on cost savings from Obamacare, which may be more costly to implement than previously thought
I just read that yesterday about the chained COLA hurting middle class taxpayers too...but only those earning over 250K a year will see their taxes increase.
Thomas Sowell: There are no solutions, just trade-offs.
The man triangulating him, President Obama, has proposed cuts to Social Security and Medicare as part of an attempt to find a middle ground in the budget debate. For Sanders (I), a liberal member of the Senate Democratic caucus, the betrayal stung so badly that he literally took to the streets, joining left-wing activists for a protest Tuesday afternoon outside the White House
This is nice, glad I never smoked them things. Another tax on the poor and middle class. .......Tax and spend, spend and tax, tax and spend,Tax and spend, spend and tax, tax and spend,Tax and spend, spend and tax, tax and spend,Tax and spend, spend and tax, tax and spend.............
Same old Democrat approach to controlling the masses through big government. Just make everything too costly to use or own. Tax the crap out of smokes, and try to make guns too expensive to own.
Looking at the proposed 2014 budget, I see that of the $744 billion projected deficit in 2014, they are including $860 billion of Social Security spending.
Why hasn't the Obama administration and the Office of Management and Budget yet gotten the talking points memo that Social Security does not contribute one dime to the deficit?
And if you believe Social Security contributes not even one dime to the deficit, why didn't the Obama administration report it that way?
The $860 billion of Social Security spending alone was more than the $744 billion projected 2014 deficit.
If Social Security really doesn't contribute to the deficit, the Obama administration could of claimed a $116 billion surplus for 2014. Why didn't they?
The numbers in the chart I posted are straight from their 2014 budget and are consistent with the numbers being reported in the press.
