Obama budget proposal to drop Social Security cuts

FILE - In this May 19, 2013, file photo President Barack Obama speaks during a Democratic Senatorial Campaign Committee (DSCC) event in Atlanta. Candidates in U.S. Senate races this year collectively raised more than a half-million dollars a day in 2013, suggesting a spate of never-ending campaign ads, mail and phone calls to come before November’s elections. The DSCC raised nearly $53 million in 2013 and the National Republican Senatorial Committee nearly $37 million. (AP Photo/Carolyn Kaster, File)By Steve Holland and Roberta Rampton WASHINGTON (Reuters) – President Barack Obama on Thursday dropped a measure to trim cost-of-living increases in Social Security from an upcoming budget proposal in an election-year move that may insulate fellow Democrats facing heat from senior voters. The White House said Obama’s budget proposal for the 2015 fiscal year, to be released on March 4, will not include a plan he made last year that represented an effort to gain some Republican support and break through congressional gridlock. Dropping the offer this year is a sign Democrats are girding for November congressional elections and in no mood to risk supporting proposals that could cost them votes from seniors on Election Day on November 4. Obama had offered to make a controversial change in how the government calculates inflation for Social Security and other federal benefits in a way that could lead to cuts in benefits for some Americans.

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