General Discussion
In reply to the discussion: So now the talking point is that Obama destroyed chained CPI with his masterful brinksmanship. [View all]JDPriestly
(57,936 posts)The chained CPI will not be dead until Obama buries it, and he hasn't yet, not by any means.
Read this article by Michael Hudson which explains so much. I'm not sure I agree with all of it, but there is certainly a lot of truth in it.
http://www.counterpunch.org/2013/04/12/obamas-cat-food-social-security-reform/
Obama would not have appointed Pete Peterson's protege, the man Pete Peterson's committee chose to head the NY Fed -- Timothy Geithner for Treasury in his first administration if he did not want to please Pete Peterson and begin to destroy Social Security.
Further, he would not have appointed Erskine Bowles and Alan Simpson and a majority of anti-Social Security people to his Cat Food Commission if he were all that pro-Social Security.
Obama has done nothing to protect Social Security.
The right thing to do is to tax capital gains at the levels at which it used to be taxed and use the additional revenue to repay the Social Security Trust Fund which was plundered by the Congress and various administrations.