WASHINGTON (AP) — President Barack Obama is backing away from some deficit reduction proposals he considered during failed summer negotiations with House Speaker John Boehner even as he prepares to unveil a broad plan to tackle the nation's debt with a blend of tax revenue and lower spending on health care programs.
The president won't include adjustments to Social Security when he lays out his plan Monday for lowering long-term deficits by $2 trillion over 10 years. In July, during talks with Boehner over raising the nation's borrowing limit, the White House had proposed reducing cost-of-living adjustments for most Social Security recipients, a proposal that met stiff Democratic resistance.
"As the president has consistently said, he does not believe that Social Security is a driver of our near and medium term deficits," White House spokeswoman Amy Brundage said Thursday. "He believes that both parties need to work together on a parallel track to strengthen Social Security for future generations rather than taking a piecemeal approach as part of a deficit reduction plan."
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