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Official: Obama proposes cuts to Social Security

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WASHINGTON (AP) -- President Barack Obama is proposing cuts to Social Security as an attempt to compromise with Republicans on the budget.

A senior administration official says the budget Obama will offer to Congress next Wednesday would reduce the deficit by $1.8 trillion over 10 years. It includes a revised inflation adjustment called "chained CPI" that would curb cost-of-living increases in Social Security and other benefit programs.

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