Skip to main content

View Diary: My view of chained CPI at age 67 (48 comments)

Comment Preferences

  •  That's true, but flawed policy like chained CPI (4+ / 0-)

    is the gift that keeps on giving - it'll keep reducing benefits well into the future, so that generations after the boomers will be even worse off from day one of retirement, and continue to decline after that. And those generations will have bigger lapses in high earning years due to high unemployment and stagnant (or even declining) wages now, further reducing their payback.

    The idea that this Congress and this President will beef up  benefits now, as the diarist suggests, would be hilarious if it weren't so sadly naive. And another benefit of chained CPI is that it will take ever larger amounts in the future just to restore parity with where benefits are now, so each year chained CPI is allowed to exist makes decent benefits less possible.

    I find this diary just another example of someone willing to bend over backwards into pure fantasy to defend another awful proposal, compromise or policy that Democrats, including the President, are pushing. Another sucker willing to be fooled again.

    Modern revolutions have succeeded because of solidarity, not force.

    by badger on Sun Mar 17, 2013 at 11:48:04 AM PDT

    [ Parent ]

    •  Hey, badger, I'm in agreement with you--I'm (3+ / 0-)
      Recommended by:
      NoMoreLies, congenitalefty, Lava20

      ABSOLUTELY against implementing the Chained CPI (actually, not certain if you're even addressing my comment.  Sorry, I have a hard time discerning the thread sequences).

      My intention was to address the commenter above me.  I am aware of the compounding effects of the Chained CPI.

      But in fairness, from some articles I've seen, older workers (sometimes age 50, sometimes age 55 is the starting point in various studies) have been very hard hit, as well.  It gets far less attention in the media, because the (corporatist) neoliberal economic model accentuates, or focuses, on the well-being of the younger cohort.

      This is because of the neoliberal focus on "predistribution, as opposed to redistribution."
      I'm trying to figure out how to isolate a radio conversation on this topic.  It is very instructive, and explains WHY the social insurance programs for the elderly are now fair game.  

      Hopefully, I'll figure it out soon.  If you (or anyone else) knows of an application that helps accomplish this, please let me know.  I know that they exist.

      I have some personal experience with being the 'victim' of a recession.  I was just out of college and had taken my first job when a pretty bad recession hit in the 1980's.

      I was offered and accepted a temporary position with the company (the pay and benefits were off-the-charts excellent), moving from Atlanta to Washington, D.C. (or Rosslyn, VA).

      My point is that it's really not an earth-shattering new phenomenon--that the least experienced employees have the highest unemployment rates during a recession.  Which is not intended to trivialize the harmful effects on the young.  Again, been there, done that.

      But older workers also experience high rates of unemployment during recessions.  After all, employees often shed their most expensive employees first, for cost savings.

      The reason for the hyperventilating over unemployment today [while not lifting a finger to do anything about it], is that it plays into the corporatist neoliberal 'meme' that entitlements for seniors need to be 'on the chopping block' for reasons of deficit reduction.  'For the children, etc.'

      So ignoring the high unemployment rates for folks over ages 50-55, has been part of setting up a scenario which the Powers to Be believe will be favorable to their 'pulling off eviscerating the social safety net.'

      Further, the Pete Peterson Foundation has been deploying operatives to stir up generational resentments for close to a decade now, traveling college campuses with their 'dog and pony' show.  Former US Comptroller General David Walker has been a regular on that 'tour.'

      IMHO, this serves as a sterling example of cruelty and cynicism, at its worst.

      But I'm a firm believe that 'the truth' will prevail, if only we keep at it. ;-D

      Mollie

      "If a dog won’t come to you after having looked you in the face, you should go home and examine your conscience.” -- Woodrow Wilson

      hiddennplainsight

      by musiccitymollie on Sun Mar 17, 2013 at 01:36:29 PM PDT

      [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site