SOCIAL SECURITY LAW: Obama Plans to Adjust Medicare after Signing Debt-Ceiling Bill

August 2, 2011

Washington- President Barack Obama has planned to adjust the Social Security and Medicare benefits after approving the debt-ceiling bill on Sunday.

Obama affirmed that the deal prevented a default, which could have worsened the nation's economy. However, he reiterated that such action requires new tax revenues and spending cuts. This will mean collecting more money from rich businessmen and reducing Social Security spending, according to reports.

Reports said Obama will ask the Social Security Administration to make adjustment on benefit programs and Medicare claims to help federal budget regain its balance. Such move is necessary to sustain the nation's economy until 2012.

Critics raised contentions on the impact of stringent claim process on Social Security and Medicare benefits among disabled and retired seniors. The health workers and seniors asserted cuts to other government expenditures instead.