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Obama budget takes heat from all quarters (+video)

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"This chained CPI that’s being referred to here, it is something the president will only accept on two conditions," senior adviser Dan Pfeiffer said on ABC’s “This Week.” "One, it’s part of a balanced package that includes closing tax loopholes that benefit the wealthiest, and two, that it has protections for the most vulnerable, including the oldest seniors."

On Wednesday – the day he officially unveils his budget for fiscal year 2014 – Obama will dine with a dozen Republican senators.

"The president's focus, in addition to the regular order process that members of Congress say they want, is to try to find a caucus of common sense, folks who are willing to compromise, that don't think compromise is a dirty word, and try to get something done," Mr. Pfeiffer said Sunday on "This Week.”

But Obama might want to schedule a meal with liberal lawmakers and pundits as well.

“I will never support any reductions in Social Security, Medicare or Medicaid benefits – and chained CPI is a direct reduction in Social Security benefits,” says Rep. Jerry Nadler of New York. “Along with my fellow progressives, I will vehemently oppose any such cuts.”

“Any ‘democrat’ who supports these proposals is never going to get my vote,” warns the economic analyst known as “New Deal Democrat” on the Bonddad Blog. “I will support any primary opponents and I will accept a one term GOPer if necessary to end the political career of any Grand Betrayers, replacing them with a progressive in 2 or 6 years. And I know I am far from alone.”

On his Conscience of a Liberal blog, New York Times columnist and Nobel Prize-winning economist Paul Krugman says chained CPI is “purely and simply, a benefit cut.”

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