The Journal reports:
President Barack Obama's new deficit-reduction proposal will leave out changes to Social Security, and may exclude any increase in the Medicare eligibility age, people familiar with the discussions said Wednesday.
Looks like we can all breath a sigh of relief.
Changing the inflation formula so Social Security benefits grow more slowly and raising the Medicare eligibility age were ideas Mr. Obama had been willing to accept this summer, when he was trying to strike a deficit-reduction deal with House Speaker John Boehner (R., Ohio).
President Obama, it looks like you, and we, owe Speaker Boehner a thank you for walking away from a plan that would have destroyed your presidency, and further impoverished what is left of the middle class.
Perhaps with the benefit of hindsight, the President now understands that tax hikes for a rich minority, is not the same as proposing ruinous cuts that are morally, financially, and ethically perverse upon the non-rich American majority.
Mr. President you are on the right path with this jobs bill and with your renewed passion for the less fortunate in America. But, i don't ever want to hear that you, in the interest of compromise are considering or proposing cuts that are this draconian to the social safety net ever again!
here's the article.