CNN: corker just confirmed...chained CPI off the table..

[democrattotheend]

47. I wish

But I think they are only buckling for now, because they know they cannot sell a platform of cutting SS benefits so they can cut taxes for the rich. But rest assured, they will be demanding SS cuts and cuts to other entitlements when it's time to raise the debt ceiling.

When the president agreed to chained CPI, it was in the context of a bigger agreement that would have included the debt ceiling. Now that that part seems to be off the table, neither side would win by including chained CPI now. Politically, it is much easier to make the case that entitlement cuts are necessary in the context of an agreement to raise the debt ceiling (yes, I know, SS has its own funding source and does not impact the deficit, but most people don't understand that).

This was always the real Plan B for Republicans: fold on the middle class tax cuts now, and then demand draconian spending cuts in exchange for raising the debt ceiling. Which is why it would have been better for us to get a deal that included raising the debt ceiling now, even if it included chained CPI, than to have the debt ceiling fight separately in February, when we don't have avoiding the cliff as leverage and we don't have the upper hand in terms of public opinion the way we do on taxes.