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Obama’s Plan: Reinvent Medicare and Social Security Programs

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President-elect Barack Obama wants to tackle "entitlement" programs as soon as he gets into office. He plans to hold a "fiscal responsibility summit" next month where he will no doubt have to make difficult choices regarding government spending before presenting the budget to Congress, according to the Washington Post. Both Presidents Bush and Clinton attempted to change the country health care and social security systems. So far, Obama has yet to reveal any specifics about the overhaul he plans to make in either program, but he remains confident that his economic team will be able to succeed where others have failed.—WLW

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