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Obama's New Budget Cuts Social Security, Makes No One Happy
- 04/10/2013 01:52 PM EDT
On Wednesday, President Obama unveils his budget for 2014, two months late and already to mixed reviews. The budget contains the standard mix of investment in infrastructure and education, paid for by revenue increases from closing tax loopholes for wealthier people. For the first time, it also includes cuts to Medicare and Social Security.
The intended effect, in those cuts, is to bring a reluctant GOP to the negotiating table. However, the budget's not even out yet and it seems it may have backfired. The cuts have drawn sharp criticism from the left -- with Sen. Bernie Sanders and AFL-CIO reps delivering boxes of petitions with over 2 million signatures protesting the cuts to the White House on Tuesday.
And it's not clear that the cuts have done anything to offset opposition from Republicans, staunchly opposed to any kinds of revenue increases. The President is dining with 12 GOP Senators on Wednesday evening, in hopes of softening opposition.