Remember when, running for president back in 2008, Barack Obama vowed never to cut Social Security’s cost-of-living adjustments? He seems to be having second thoughts.

During his first White House campaign against Republican nominee John McCain, Obama made two promises regarding Social Security. First, he said he wouldn’t raise the retirement age; and second, he pledged not to cut the cost-of-living adjustment.

The president’s terrible, horrible, no good, very bad budget proposal, which he introduced Wednesday, breaks the latter promise.

That of course raises the question: How long — in the name of “compromise” — until he reneges on the former?

(h/t Huffington Post)

— Posted by Tracy Bloom.

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#barack obama#chained cpi#politics#social security