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View Diary: White House said to be considering smaller fiscal cliff package (217 comments)

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  •  It's A Chained CPI In Relation To Social Security (0+ / 0-)

    Not just the CPI-W.

    A chained CPI probably understates inflation for elderly people on Social Security.  Therefore, calculating their benefit Cost of Living Adjustments with a chained CPI will lead to being able to buy fewer goods and services with their Social Security benefits.  That's a cut in Social Security benefits.

    If I was a communist, rich men would fear me...And the opposite applies. The history of all hitherto existing society is the history of class struggles.

    by stewarjt on Fri Dec 21, 2012 at 03:23:40 PM PST

    [ Parent ]

    •  The upside is (0+ / 0-)

      I read that under the formula the president is proposing, the poorest recipients will get a little more. And I read somewhere recently that the new formula would set a baseline so that the minimum SS benefit was set at 150% of the poverty line, which I guess is higher than what the lowest-paid beneficiaries get now. Obviously nothing is confirmed yet, but if that's how it ends up it will at least help the poorest recipients.

      •  Well, If All Sorts Of Qualifiers Are Necessary (0+ / 0-)

        Why do it at all?

        We need to keep sight of the fact that Social Security has absolutely nothing to do with the deficit and/or the debt.

        If I was a communist, rich men would fear me...And the opposite applies. The history of all hitherto existing society is the history of class struggles.

        by stewarjt on Fri Dec 21, 2012 at 07:11:46 PM PST

        [ Parent ]

        •  If it keeps SS solvent for longer (0+ / 0-)

          Then it should be considered, IMO. SS, Medicare and interest on the debt are swallowing a bigger and bigger portion of the budget, leaving less and less for investment in the future (education, infrastructure, etc). Yes, if I had it my way we would cut defense and raise taxes more on wealthy people, but sadly, we are constrained by a House filled with a bunch of lunatics.

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