Democratic Primaries
In reply to the discussion: Biden WENT THERE! In the second hour of his interview with Don Lemon he said.... [View all]George II
(67,782 posts)Last edited Sun Nov 24, 2019, 11:17 AM - Edit history (1)
What Obama wanted to do is index Social Security INCREASES to the CPI, instead of the existing method (COL). As it turns out, since 2012, the "chained CPI" would have resulted in BIGGER increases through 2019.
Year COL CPI
2019 1.6% 1.6% No difference
2018 2.8% 2.1% COL 0.7% higher
2017 2.0% 2.5% CPI 0.5% higher
2016 0.3% 1.4% CPI 1.1% higher
2015 0.0% -0.1% COL 0.1% higher
2014 1.7% 1.6% COL 0.1% higher
2013 1.5% 1.6% CPI 0.1% higher
2012 1.5% 2.9% CPI 1.4% higher
1 year the result was the same
3 years the existing calculation was higher, 0.9% total
4 years the CPI calculation was higher, 3.1% total
Guess what? Obama was right. Sanders, who wanted to leave the calculation the same, wanted to "cut Social Security".
primary today, I would vote for: Joe Biden