Cuts to Medicare and Social Security will be included in President Obama’s budget, set to be released on April 10, the New York Times reported Friday:
In a significant shift in fiscal strategy, Mr. Obama on Wednesday will send a budget plan to Capitol Hill that departs from the usual presidential wish list that Republicans typically declare dead on arrival. Instead it will embody the final compromise offer that he made to Speaker John A. Boehner late last year, before Mr. Boehner abandoned negotiations in opposition to the president’s demand for higher taxes from wealthy individuals and some corporations.
CNN reported that Obama will propose a new inflation calculation, known as chained CPI, for Social Security. Obama’s budget will also reportedly call for a prekindergarten education program, to be paid for by raising taxes on cigarettes.
More highlights from the budget at CNN.
