Social Security: Barack Obama

Social Security Dept: The president's budget projects deficit reductions of $1.8 trillion over the next decade, achieved with higher taxes, reductions in payments to Medicare providers and cutbacks in the cost-of-living adjustments paid to millions of recipients in Social Security and other government programs, according to CTV. The president's proposed spending for the 2014 fiscal year, which begins Oct. 1, would rise 2.5 per cent from this year and WASHINGTON -- U.S. President Barack Obama sent Congress a $3.8 trillion spending blueprint on Wednesday that strives to achieve a grand bargain to tame runaway deficits, raising taxes on the wealthy and trimming popular benefit programs including Social Security and Medicare. The budget would also nearly double the federal tax on cigarettes to $1.95 per pack. That money would fund a new pre-school program for 4-year-olds. (www.immigrantscanada.com). As reported in the news.