What's this - Obama "agreed to accept a GOP proposal to slow Social Security growth"

[jsr]

http://online.wsj.com/article/SB10001424127887324407504578185362961624862.html

With New Offers, Fiscal-Cliff Talks Narrow
By CAROL E. LEE, JANET HOOK and DAMIAN PALETTA

WASHINGTON—President Barack Obama backed away from his long-standing call for raising tax rates on households making more than $250,000 a year, a development that inches the White House and congressional Republicans closer to a budget deal...

Aides to Mr. Boehner called the offer "a step in the right direction" but said it asks for too much tax revenue and not enough spending cuts. "We hope to continue discussions with the president so we can reach an agreement that is truly balanced and begins to solve our spending problem," said Boehner spokesman Brendan Buck.

The White House offer marks a major shift for the president—Mr. Obama since his first run for the White House has campaigned to allow Bush-era tax rates to expire for households making above $250,000—and raises the question of whether he will be able to sell such a deal to his own party.

As part of the offer, the president lowered the amount of tax revenue he is seeking in a deal from $1.4 trillion to $1.2 trillion. He also agreed to accept a GOP proposal to slow Social Security growth by using a different inflation formula to calculate cost-of-living increases, people familiar with the matter said.

[Mel Content]

1. it means that obama is throwing SS recipients under the bus.

fuck him.

[Dyedinthewoolliberal]

2. We don't know what this means

we don't know who provided the info, we don't know who wrote the story.

[jberryhill]

3. "Aides to Mr. Boehner..."

Yeah, like I'd trust an orange Boehner with aides.

[HiPointDem]

4. well, we know paul krugman & ezra klein wrote 2 of them. and the wa po, la times, wsj, reuters,

atlanta constitution, npr & a number of others published them.

still waiting on the nyt.

[MannyGoldstein]

6. NY Times also

http://www.nytimes.com/2012/12/18/us/politics/president-delivers-a-new-offer-on-the-fiscal-crisis-to-boehner.html?hp

[HiPointDem]

7. thanks. i think all the biggies have weighed in but the chicago papers, then?

[Herlong]

8. Ouch

Last edited Tue Dec 18, 2012, 02:56 AM - Edit history (1)

I can see it now. Congress will write a bill throwing us all under the bus. Democrats will wash their hands in the name of bipartisanship and Republican will say Democrats were for it all along hoping people weren't paying attention. Washington. The ultimate three card monte.

[MannyGoldstein]

5. If true, he agreed to substantial cuts.

Basically, Social Security will not compensate sufficiently for inflation.