CBS NEWS

By Major Garrett

A senior administration official confirms President Obama’s budget, to be delivered to Congress on April 10, will include a formal request to reduce cost-of-living increases to Social Security recipients if congressional Republicans agree to raise additional tax revenue.

Mr. Obama’s proposal is part of a broader strategy to alleviate some of the pain linked to sequestration spending cuts as well as tackle some difficult politics on entitlement cuts. The linchpin, as it has been throughout budget talks in the Obama era of divided government, is whether Republicans will acquiesce to higher taxes. The prospects for this, based on recent GOP rhetoric, appear bleak.

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