Social Security benefit cuts may be a bridge too far for House Minority Leader Nancy Pelosi (D-CA). But what if Republicans and Democrats alike just agreed to refer to a benefit cut by another name.That's how key negotiators have decided to treat one policy proposal, popular in Washington, that would simultaneously raise tax revenues and reduce Social Security benefits. As explained at length here, the idea is to peg federal Cost of Living Adjustments to a new, stingier measure of inflation. ...And if you think Democrats are playing dumb because they want a deal, think again. They're some of the biggest supporters of this plan. ...Reducing the COLA is something top Obama administration officials have wanted to do for a long time. ...This bucking of orthodoxy via clever wordplay mirrors the cover Republicans give themselves from their base when they agree to close tax loopholes, despite pledging never to raise taxes. Only Democrats seem much more willing to play this game than the GOP.
Jul 8, 2011
A Rose By Another Name?
From TPM Media:
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COLA
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