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View Diary: Breaking: Chained CPI Dropped from White House Budget (42 comments)

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  •  See my comment to Trix above. (1+ / 0-)
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    Brown Thrasher

    My guess is they never considered it a bad idea.  What they say is what you get.

    The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt. Bertrand Russell

    by accumbens on Thu Feb 20, 2014 at 10:37:27 AM PST

    [ Parent ]

    •  If you believe that Social Security can continue (0+ / 0-)

      just the way it is today for another 25-30 years then you have another thing coming.

      Progressives need to acknowledge that the program cannot continue like this given the boomer retirement wave about to hit.

      •  Social Security is in pretty good shape (4+ / 0-)

        There IS a short-fall, but it's not a long-term structural problem. Small fixes to the funding of social security will be enough to get us through the end of the baby-boomer generation. After which, the current funding formula is perfectly sustainable. Remember the social security trust fund is meant to be running a deficit during the boomer retirement period - that's why it was built up in the first place.

        It's Medicare which has a much more shaky because of the high rates of medical care cost in this country.

        Ironically, both the (large) Medicare funding problem and (small) Social Security are due to a couple of the same problems: really expensive medical care in this country and increased income inequality.

        Really expensive medical care (e.g., health insurance) is one of the reasons for the stagnating wages for 95% of Americans (more tax-free money spent on health care by employers = less money given in taxable wages). Increased income inequality and the cap on payroll taxes, means that fewer people are paying paying their full income on social security than was projected when the formula was set. Some studies show that rising income inequality and stagnating wages account for 50% of Social Security's shortfall.

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