General Discussion
In reply to the discussion: Obama Wanted to Cut Social Security. Then Bernie Sanders Happened [View all]ConservativeDemocrat
(2,720 posts)Social Security is slowly running out of money, thanks to longer lifespans. If nothing is done, the fund will run out of money come 2033. At that point, it will only be able to pay approximately 3/4 of what it owes. That will be a HUGE cut to retiree's incomes, nothing like Chained-CPI, which is largely just a reduction in the way that inflation is calculated, discounting things that the elderly typically don't buy.
Fixing the Social Security fund requires increasing taxes. Republicans don't like that. So Obama was saying "if you raise taxes (on the rich), I'll may agree to a Chained CPI reduction".
Republicans aren't a governing party any more though. They can't even agree with themselves.
- C.D. Proud Member of the Reality Based Community