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CNN The Situation Room April 11, 2013 21:10:00

In 2008, then candidate obama pledged now is the time to protect social security for future generations. reporter: now some democrats feel betrayed. there are 57 million recipients of social security and medicare out there. all of whom would be adversely impacted by this. and that s why you re seeing not only democrats but republicans rising up in opposition to this proposal. reporter: the administration acknowledges the president borrowed republican ideas. the change to social security is a proposal that emanated from republican leaders. you just said it was a republican proposal. so why is the democratic president issuing a republican budget? because he s president of the whole country and he believes we need to reach a budget compromise that s balanced. reporter: but democrats should not be surprised. this is not a new priority for the president. right after he took office in 2009, he held a summit about ....

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CNN The Situation Room April 11, 2013 21:48:00

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CNN The Situation Room April 11, 2013 21:11:00

Cutting the deficit. we cannot and will not sustain deficits like these without end. reporter: he didn t prioritize this agenda thanks to the financial crisis and the political considerations of a re-election until recently. so now he is pressing it but he s hardly gone over to the other side. this budget is filled with big ticket poverty fighting programs. pre-k education for all kids. price tag $75 billion over ten years. job training and on ramps to work for the unemployed. $12.5 billion over ten years. he even proposes increasing the minimum wage from $7.25 to $9 an hour. all government initiatives that usually would make democrats cheer. and many democrats, wolf, are cheering about those programs but many tell me they just find the president s budget bewildering. they say on the one hand he is proposing republican ideas for reforming medicare and social ....

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CNN The Situation Room April 11, 2013 21:29:00

The afl-cio, bernie sanders, the independent senator from vermont. they are pretty upset about the way he wants to change the inflation factor for social security recipients, for medicare, and for other areas. they think this is a horrible, horrible idea. what do you say to them? well, first it s important to understand the context here. what the president did is he took the last offer that he presented to speaker boehner during the fiscal negotiations in december and included it in his budget. that includes some provisions like the one you re referring to here that are things republicans specifically asked for to be included in any fiscal deal. the president wanted to demonstrate he is serious about trying to resolve our problems but also we don t have to choose between deficits and job creation. we can do both. but it s a compromise. you ll have folks on both sides who aren t going to want it. what is the president going to try to do to reassure some of the liberals out there who ....

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Detailed text transcripts for TV channel - MSNBC - 20130411:14:20:00

They claim to be. how do you see this as meeting us halfway? we cut $5 trillion in spending. he raises $1 trillion in spending and raises $1.1 trillion in taxes. if you want to defend the middle class, you don t cut social security and you don t cut medicare and you don t cut benefits for disabled vets. let s bring in cnbc contributor ron insana and university of maryland business professor peter marisi. can we start with the bone of con tense, changes of social security. the house and senate have no specific plan to address it, but the president s plan will reduce cost of living adjustments which will save $230 billion over ten years. for the average recipient we re talking about $30 a month. why is this so controversial? i have no idea. there are so many changes that need to be made to our entit entitlement program this is something entirely at the margin. what s really i think more important and most economists would agree is raising the retirement age for future ....

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