Chained CPI. The cheaper the items seniors buy, the lower the cost of living raise. Not good.

[madfloridian]

Senator Harkin spoke about Social Security and the chained C.P.I. on the Senate floor and warned about the negative effects that it has on the budgets of seniors. Dec. 2012.

I fear this will be part of a deal with the GOP to end the shutdown and avoid default. The president has often pushed Chained CPI, so it does worry me.

Superlative CPI. Obama's version of Chained CPI. From ABC in December.

House Republicans have proposed indexing federal benefits, most notably Social Security, to a slower inflation rate known as the “chained Consumer Price Index (CPI).” That would slow the growth of Social Security benefits, which increase periodically with Cost of Living Adjustments (COLAs), the next of which is scheduled for January.

The president has countered with his own inflation offer, a “superlative CPI” that the White House says would shield the neediest beneficiaries from the change. Liberals have cried foul about all of it.

...The best number to know is $130: That’s how much a typical 65 year-old would lose in yearly benefits, three years from now, under the GOP’s “chained CPI” proposal.

[jsr]

1. Recommend

[djean111]

2. The use of the word "superlative" is sickening and disgusting. n/t

Same motive as names like "Americans for prosperity (of the Koch brothers)".
Polishing a turd.

[MannyGoldstein]

3. Let's be realistic here

These well-funded special-interest groups - the aged, the infirm, and the poor - have gotten away with murder for far too long. Many eat two or more meals each day, often including bits of protein.

Meanwhile, there are reports of bankers who only have four houses and two yachts.

This can not stand. The American people need to know that this is over. Just as we said "No!" to Republicans, we must say "No!" those who choose to be destitute and ill.

Regards,

Third-Way Manny

[madfloridian]

4. .....

[awoke_in_2003]

6. K&R for Manny. nt

[jtuck004]

7. Maybe we limit the money-grubbing profits of the elderly to 15%, like we did for insurance cos? n/t

[PoliticAverse]

5. But I was told it 'strengthened' Social Security... n/t

[Dragonfli]

9. It does, specifically it strengthens the giant trust fund

that is a SS asset but that belongs to the 1%.

You see, sensible people realize that if any of that trust fund ever goes to the workers that fill it full of their money, they could not continue pretending the deficit is lower than it is by not counting that money when they spend it, it should always be a source to fund tax cuts for the wealthy off the books and not a source to pay earned benefits silly.

Son't you know anything about modern finance and how retirement funds are the best source of cash for management to fund off the books profit?

With enough strengthening, why they can get that trust fund up a trillion more and have even more free tax cut money. In the end, just get rid of the benefits all together and the slush fund and all the tax cuts provided by it will just disappear along with SS and be forgotten, making it a crime that never happened!

Smart people understand these things, only idiots and serfs think that serf money belongs to the serfs, it rightfully ALL belongs to the 1%

[newfie11]

11. Thank you

This is a horrible idea benefiting the 1%.
This and TPP if passed will change this country for the worse.

[PoliticAverse]

18. Excellently stated. n/t

[eridani]

8. Pushing millions into poverty is apparently a wonderful thing if you give the poorest a tiny raise--

--which comes nowhere near raising them out of poverty. NOT!! Godfuckingdammit! Hamburger may subsitute for steak, but there IS no substitute for insulin! Medical expenses, unlike food and consumer goods, don't have substitutes, and these account for much more of the budgets of elderly people. Those of us who have Medicare deducted from Social Security on a monthly basis have had shrinking checks for years now, because Medicare always goes up more than the COLA.

The initial benefits calculation already skews to favor lower income groups, and it is an excellent idea to skew it even more in that direction. But there IS no goddamfucking logical connection between this process and calculation of COLA. People who link them are just advocating killing more old people.

[madfloridian]

10. Amen to that.

[MisterP]

20. sure there's a substitute for insulin! just shunt your bodies together like the rich do! (extra NSFW

[Enthusiast]

12. Chained CPI is being touted as a means to save social security.

That is just so much bullshit.

[madfloridian]

13. Yep, it is.

[madfloridian]

14. Don't forget Bernie Sander's chart that shows percentage cut for age groups of seniors.

Bernie Sander's chart



Crossposted at Twitter

[malletgirl02]

15. Chained CPI

So in short chained CPI is a catch 22. The more people try to stretch their meager income the lower the cost of living raise is. So they are punishing people for being frugal.

[madfloridian]

16. It does sound like Catch 22

[Enthusiast]

17. And all the while the Pentagon and the NSA are anything but frugal.

This is a rotten deal, I tells ya.

The idea of Chained CPI is morally bankrupt.

[Zorra]

19. Awesome! I'm going to buy up as many shares of Generic Catfood, Inc as possible.

Corporations will make a major killing off chained CPI.

Dark humor and

[KoKo]

21. K&R!