From Sam Stein writing at
Huffington Post:
Concern is mounting among some Senate Democrats that President Barack
Obama will make a deal with Senate Republicans during the lame-duck
session that would result in changes to the benefit structure of Social
Security....
[According to Senator Bernie Sanders] "unless we stop it, what will happen is there will be a quote-unquote
grand bargain after the election in which the White House, some
Democrats will sit down with Republicans, they will move to a chained
CPI."
Chained CPI, or consumer price index,
is an alternative measure of calculating inflation that would lessen
the cost of living increases for Social Security payments. When the
president and Speaker John Boehner (R-Ohio) attempted to craft a deal on
the debt ceiling last summer, Obama offered the chained CPI as a
concession.
Chained CPI sounds boringly technical but it would be a significant cut in Social Security benefits.
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