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Search Tags: Barack Obama
President Barack Obama is calling for the implementation of the "chained Consumer Price Index" to measure inflation. The change will reduce cost-of-living adjustments for retired federal employees and Social Security recipients. The 2014 budget is officially scheduled for release on Wednesday.
A White House official says President Barack Obama will return part of his salary each month for the rest of the year, to the tune of $20,000.
Under the law, the President was supposed to submit a budget by Feb. 4. White House aides said deliberations over spending and sequestration in the past few months delayed the release of Obama's blueprint.