Monday, July 11, 2011

Once More With Feeling: Obama Cutting Entitlements

I wrote about Obamabot Joy-Ann Reid lying about President Barack Obama not targeting entitlements. Below are Obama's own words. The President clearly states that he is targeting Social Security, Medicare and Medicaid.

"The vast majority of Democrats on Capitol Hill would prefer not to have to do anything on entitlements, would prefer frankly not to do anything on these debt and deficit problems," he said.

But doing nothing is irresponsible and is really not an option, Obama argued.

"If you look at the numbers then Medicare in particular will run out of money and we will not be able to sustain that program no matter how much taxes go up," he said. "It's not an option for us to just sit by and do nothing. if you're a progressive that cares about he integrity of Social Security, Medicare/Medicaid ... then we have an obligation to make sure that we make those changes required to make this sustainable in the long term."

Social Security is running on a surplus. Money has been taken out of Social Security to pay for other federal spending. The health care debate was an opportunity for President Obama to deal with Medicare and Medicaid costs. To some extent the administration lowered costs. The cost savings the White House have been internally talking about in cost of living adjustment. COLA is the inflation adjustment to Social Security payments. Translation: the payments are going to either look smaller are the inflation increases are spread out more.

Either Obama believes that Dick Morris' 1996 campaign advice to Bill Clinton was true or the President is rather conservative. Most likely, it is a combination of the two.

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