It's really not clear what Democratic Leader Nancy Pelosi means when she says the chained CPI is not a benefits cut, but that's what she says
Though Chained CPI would reduce lifetime benefits relative to the current cost of living adjustment formula, Pelosi said she does not consider it a benefit cut.
“No, I don’t,” consider it a benefit cut, she said. “I consider it a strengthening of Social Security.”
Okay, it is clear what she means. She's speaking purely semantically; she wants to support the president so she'll pretend that the bad stuff that will happen as a result of this benefit cut is really strengthening the program. Strengthening it into irrelevancy as it becomes less and less able to provide the security our seniors need.
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