Obama's Budget to Include Cuts to Medicare and Social Security
President Obama's new budget is likely to include cuts to Medicare and Social Security. About the only details being leaked are:
- a change in the way inflation is calculated which is likely to result in social security recipients receiving less
- cuts in payments to medical providers and drug companies (which will mean fewer doctors for the elderly, a group that is rapidly increasing in size)
- Medicare premiums will be higher for those in upper income brackets.
In exchange for the cuts, Obama is said to be demanding Republicans agree to the tax increases he proposed last year, including higher taxes for wealthier Americans.
Another Obama suggestion: More taxes on cigarettes to cover making pre-kindergarten free nationwide.
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