Bad News Friday  —  The two biggest pieces of news today are that President Obama's budget will reflect the tax and spending deal he offered House Speaker John Boehner last year — i.e. it will include the so-called Chained-CPI Social Security benefit cut — and that the March jobs numbers came in way lower than expected.

Obama budget would cut entitlements in exchange for tax increases  —  President Obama will release a budget next week that proposes significant cuts to Medicare and Social Security and fewer tax hikes than in the past, a conciliatory approach that he hopes will convince Republicans to sign onto …

Desperately Seeking “Serious” Approval  —  Sigh.  So Obama is going with the “chained CPI” thing in his latest proposal — changing the price index used for Social Security cost adjustments.  This is, purely and simply, a benefit cut.  —  Does it make sense in policy terms?

Obama Budget: Administration Explains Why It Started With A ‘Compromise Proposal’  —  NEW YORK CITY — President Barack Obama's budget, which will be introduced on Wednesday, takes a political position that some of his base is bound to bemoan.  Rather than present an outline of progressive priorities …

The Employment Situation in March  —  While more work remains to be done, today's employment report provides further evidence that the U.S. economy is continuing to recover from the worst downturn since the Great Depression.  It is critical that we continue the policies that are helping …