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 …