What a shocker...
By David Martosko
PUBLISHED:05:11 EST, 10 April 2013| UPDATED:05:16 EST, 10 April 2013
White House promises $1.8 trillion in deficit reduction, although similar previous claims have been debunked
New method of measuring cost-of-living increases will lower benefit payouts and push middle-class earners into higher tax brackets
Speaker Boehner's spokesperson: 'Any deficit reduction will come exclusively from tax hikes'
Administration's formula depends on cost savings from Obamacare, which may be more costly to implement than previously thought