Obama’s Chained CPI Offer is a Bad Idea

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This is a bit of an obvious point, but I want to make it anyway: pretty much every liberal, even those who generally support the idea of adopting chained CPI as a more accurate measure of inflation, should be opposed to President Obama’s proposal to adopt chained CPI.

The reason is simple: chained CPI represents a cut in the growth rate of Social Security benefits. It’s arguably something that’s worth accepting as part of a larger bargain that would cut benefits a bit and raise taxes a bit in order to improve Social Security’s finances, but it makes no sense on its own. Social Security is separate from the rest of the federal budget, and its benefits should never be horse-traded away for miscellaneous changes elsewhere.

If Republicans are ever in a mood to consider a serious Social Security deal that’s designed to improve its solvency in a balanced way, that’s fine. I’m ready to listen. But that’s not on the table. Until it is, chained CPI shouldn’t be on the table either.

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

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