The McClatchy newspaper chain's Washington bureau reports that "chained CPI is on the table" in budget negotiations. Sure, it's on the table, as long as Republicans allow tax increases to be "on the table" which means chained CPI isn't on the table and won't be on the table.
There's a lot of silly huffing and puffing about chained CPI that I don't understand. Current political conditions make any agreement by political leaders to adopt chained CPI impossible. Even if political leaders agreed to chained CPI, it's hard for me to believe it would pass Congress. There's zero public support for cutting Social Security and chained CPI is a cut.
There are two real threats to Social Security at the moment, the probability that the Disability Trust Fund will run out of money in 2016 or 2017 and the immediate problem of the lack of administrative funding making it difficult for the Social Security Administration to operate. These are vastly more urgent than chained CPI yet Social Security advocacy groups seem obsessed with chained CPI while remaining almost oblivious to the threats to the Disability Trust Fund and the continued operation of the Social Security Administration. Oh yes, they put out press releases on these subjects but they don't spend their time collecting 700,000 signatures on a petition to address the real issues affecting Social Security.