Barack Obama
President Obama’s $3.8 Trillion 2014 Budget Takes Knife to Medicare & Social Security (Photo credit: jamesomalley)

You know something stinks when both Democrats and Republicans are in agreement. That something is President Obama’s $3.8 trillion 2014 budget. Yeah, it’s a heckuva budget alright, with cuts galore for entitlement programs — Social Security benefits, etc. So, his debt reduction plan will be on the backs of the poor and elderly.

President Obama unveiled a 10-year budget blueprint Wednesday that calls for nearly $250 billion in new spending on jobs, public works and expanded pre-school education and nearly $800 billion in new taxes, including an extra 94 cents a pack on cigarettes.

But the president’s spending plan would also cut more than $1 trillion from programs across the federal government — for the first time targeting Social Security benefits — in an effort to persuade congressional Republicans to join him in finishing the job of debt reduction they started two years ago.

[…]

As he has in the past, Obama proposes to slice $400 billion from federal health programs, primarily Medicare, with the bulk of the cuts falling on drug companies and other providers. But Medicare beneficiaries would also take a hit, through higher premiums for couples making more than $170,000 a year and inducements for low-income recipients to use more generic drugs.

And for the first time, Obama formally proposes to slow the growth in Social Security benefits by applying a less-generous measure of inflation to programs throughout the federal government. The change would trim cost-of-living increases by roughly 0.3 percent a year, saving the government about $130 billion over the next decade. Source

Well, I will say, President Obama made an offer to the Republicans that they most certainly will refuse. While I’m at it, let me just say, seniors and the poor, just got kicked in their faces.  This budget amounts to an extended sequestration. The White House will try to pin the tail on the donkey, literally, to level blame at the Republicans, but no-one knows where this mess will end. I am just frustrated with the middle class, the poor and elderly getting caught in the crosshairs all the time.

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