Boehner: Obama holding entitlement reform 'hostage' for tax hikes
President Barack Obama's budget is expected to contain an additional $1.8 trillion in deficit reduction over 10 years -- including a measure to change the way cost-of-living increases are calculated for Social Security recipients.
The outline, which mirrors an abandoned compromise offer from the White House to House Speaker John Boehner last year, is already causing griping on the left because the entitlement changes would effectively decrease payments to beneficiaries.
But the budget isn’t exactly getting a ringing endorsement from Boehner either. The House Speaker said in a statement Friday that the White House is holding the entitlement reforms "hostage" by asking for further revenues.
Boehner's full statement follows: