The White House released a new budget plan Wednesday that would reduce entitlement benefits for retired Americans. The budget proposal seeks to limit Cost of Living Adjustments (COLA) to Social Security by using a less generous formula to measure inflation for computing future benefit increases. Called "Chained CPI" -- some conservatives say the plan would save the government billions of dollars. But others say the proposed changes also place an unfair burden on people who can least afford it. Mil Arcega has more.
President Barack Obama is proposing a $3.77 trillion U.S. budget, which he said will shrink the nation’s deficit and help generate jobs. As VOA’s Kent Klein reports from the White House, the president called on Republican lawmakers to work with him to bridge their differences.