Economy and Finance
Obama Offering To Cut Pensions For Deficit Deal
Under a proposal that would cut the deficit by $1.8 trillion over 10 years, the president will offer to apply a less generous measure of inflation to calculate cost-of-living increases, the official said on condition of anonymity
President Obama is prepared to offer cuts to US citizens pensions in order to strike a deficit deal with the Republicans a White House Official has reported. In return he wants the Republicans to agree to higher taxes for the rich. He will outline the proposal in his budget plan on Wednesday of next week.
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