President Obama is sending Congress a $3.8 trillion budget proposal. The President says he hopes to achieve a "grand bargain" to tame runaway deficits.
The proposal would raise taxes on the wealthy and trim popular benefit programs including Social Security and Medicare.
The budget envisions deficit reductions of 1.8 trillion over the next decade.
One of the questions now is, How would this budget proposal impact local senior citizens?
Local programs that help those who are already struggling are now left scrambling, wondering how they're going to stay afloat.
Geraldine Riney is a volunteer at Hannibal's Nutrition Center, but she also relies on the free meals they provide everyday.
Riney lives by herself and says it's hard to make ends meet.
"I'm very careful with my money and I don't waste it but, it really helps to have social security," said Riney.
Riney is just one of the millions of Americans that could be affected by a $1.8 trillion deficit reduction plan, which she says is scary to think about.
"Anytime you take money away from you, it's hard to make up what you did have," said Riney.
President Obama's cut back was sent to congress Wednesday morning and would trim popular benefit programs like social security and also reduce funding for financial assistance programs provided by organizations like NECAC.
NECAC Public Relations Officer Brent Engel says that cut back is going to effect both young and old.
"Some of the programs that are looking at major cuts are things such as weatherization, also energy assistance," explained Engel.
Engel says his office has been bracing for these cuts but is still left with limited options.
"There's going to be a lot of pain and unfortunately the people that are going to feel it the most are the people who can least afford it," said Engel.
At the nutrition center, Riney says the trim in social security payments is something she hasn't planned for, and hopes she'll never have to.
"I worked all those years so that I could have social security," said Riney. "I don't know what I'd do, but I'm just hoping that they don't cut it. That's the only thing I can say. "
A lot of changes are likely as negotiations begin on the President's proposed budget and those already proposed in Congress. The new budget year begins October 1st.
All content © Copyright 2000 - 2014 WorldNow and WGEM. All Rights Reserved.
Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Kathy Woodworth at 217-228-6617. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at email@example.com.