Adopting Chained CPI Is a Terrible Idea on Its Own

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Somebody just asked me what I think about the idea of adopting a new measure of inflation (“chained CPI”) as a way of slowing the future growth of Social Security benefits. I am, as I’ve said before, generally in favor of some kind of balanced deal that would cut benefits a bit and raise taxes a bit in order to improve Social Security’s finances. Chained CPI is worth considering as a component in such a deal.

However, no such deal is on offer. The only proposal being offered right now is to adopt chained CPI, full stop. As far as I’m concerned, that’s unacceptable, and no Democrat should even think about endorsing it. We can argue all day about whether Social Security needs rescuing in the first place, and if we decide it does, we can then argue about exactly which combination of measures would be fairest and best. But some things should be completely off the table, and passing a package that’s 100% benefit cuts is one of them. It’s ridiculous. This is really a no-brainer.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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