Obama drops plans for social security changes - Action News 5 - Memphis, Tennessee

Obama drops plans for social security changes in budget

Posted: Updated:
President Barack Obama drops controversial Social Security proposal from budget. (Source: POOL/CNN) President Barack Obama drops controversial Social Security proposal from budget. (Source: POOL/CNN)

(POOL/CNN) – President Barack Obama is ditching a proposal that would have reduced annual boosts in social security benefits.

The news was music to the ears of liberals.

President Obama had included the so-called "chained CPI" proposal in his budget last year. It alters the inflation formula used to determine cost-of-living increased in social security checks.

The White House says the change will not be in the president's upcoming budget to be published March 4.

Copyright 2014 POOL via CNN. All rights reserved.

Powered by WorldNow