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Official: Obama proposes cuts to Social Security

3 years 5 months 3 weeks ago April 05, 2013 Apr 5, 2013 Friday, April 05 2013 April 05, 2013 8:07 AM in News
Source: Associated Press

WASHINGTON - President Obama is proposing cuts to Social Security as an attempt to compromise with Republicans on the budget.

A senior administration official says the budget Obama will offer to Congress next Wednesday would reduce the deficit by $1.8 trillion over 10 years.

It includes a revised inflation adjustment that would curb cost-of-living increases in Social Security and other benefit programs.

The senior administration official stressed it is not the president's preferred approach but a compromise proposal to try to reach a long-term budget deal. Obama first made the offer to House Speaker John Boehner last year.

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