Both Senate Majority Leader Harry Reid, D-Nev., and House Minority Leader Nancy Pelosi, D-Calif., pledged not to touch Social Security as part of deficit reduction talks. Now that Obama and House Speaker John Boehner, R-Ohio, have agreed to a new measure of inflation that would reduce annual cost-of-living adjustments, or COLAs, for Social Security and other government programs, Democrats are reluctant to call it a deal-breaker.

As Obama and Boehner continued to haggle over how much to raise taxes and cut spending, White House Press Secretary Jay Carney called the new inflation measure a technical adjustment designed to make inflation estimates more accurate, and he emphasized it's Republicans who want it.

"Let's be clear. This is something that the Republicans have asked for, and as part of an effort to find common ground with the Republicans, the president has agreed to put this in his proposal," Carney told reporters Tuesday. "The president has always said, as part of this process when we're talking about the spending cut side of this, that it would require tough choices by both sides."

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