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Tuesday, September 20, 2011

SOCIAL SECURITY LAW: President Obama to Cut $320 Billion from Social Security Fund

US President Barack Obama may not be popular among the masses recently, but he continues to make decisions that reveal his leadership preference.

Recently, Obama has made proposals on reducing Social Security money and increasing the taxes of wealthy citizens. He has called on both the poor and the rich to make sacrifices with the incentive of retaining the full retirement age. Such move generates an impression of a leader who makes compromises to achieve a goal.

According to reports today, President Barack Obama has proposed a $320 billion cut from Social Security Fund as part of his plan to reduce the fiscal deficit by $3 trillion.

Reports said Obama plans to deduct $248 billion from Medicare and $72 billion from Medicaid without changing the full retirement age from 65 to 67.

The president will pursue tax increases by $1.5 trillion within ten years to help reduce the $3 trillion fiscal deficit. This move aims to hold wealthy citizens as part of the solution process, reports said.

Reports said Obama will also collect $1.1 trillion from military savings as US winds down operations in Iraq and Afghanistan.

The Social Security cuts and tax increases are necessary part of Obama's $447-billion project on employment boost, reports said.

Obama and his committee on deficit cuts will submit the recommendations to Congress on November 23.

Obama’s preference on pleasing others has caused him ups and downs on his leadership. His recent plan to satisfy the demand on cuts has resulted to reduced Social Security allowances of the poor, while pressure on mass disapproval compelled him to raise the taxes of the rich.

His next steps on fixing the budget deficit is probable, he will try to cover up for the pitfalls of the trade industry and make promises on labor boost.

So much for pleasing others to appear acceptable to society, it is time to hit the source of the nation’s recession and face opponents with firmness. The Social Security Administration (SSA) has been lenient in granting the requests of Obama, soon enough the people will experience the consequences of such leeway.

To learn more on Social Security claims, you may consult with a lawyer in Los Angeles. Your attorney will help you deal with the litigation process. Dial 1-866-772-2889 or email us at for a free case analysis.