A key feature of the plan Obama now is submitting for the federal budget year beginning Oct. 1 is a revised inflation adjustment called ‘‘chained CPI.’’ This new formula would effectively curb annual increases in a broad swath of government programs, but would have its biggest impact on Social Security. By encompassing Obama’s offer to Boehner, R-Ohio, the plan will also include reductions in Medicare spending, much of it by targeting payments to health care providers and drug companies.
http://bostonglobe.com/news/politics/2013/04/05/official-obama-proposes-cuts-social-security/wEAq2lB9Z4cdxrnSBxQwLI/story.html
It still remains to be seen if the Republicans will agree to more taxes to go along with these proposed cuts but its good to see meaningful offerings on the subject of SS and Medicare
I would prefer to see some discussion about slowly raising the retirement age but this is good to see so props to him for that