While this is indeed serious business, if Trump can alter the procedure without Congress another president could likely alter it back also without Congress. That being said, this should make fodder for a nice election ad when juxtaposed to Trump’s promises to not cut Social Security.
Not just Obama. Watch your wallet.
"“I’m not against moving to the chained CPI, but I absolutely wouldn’t go there without the other parts of the deal,” says Jared Bernstein, a senior fellow at CBPP and former economic adviser to Vice President Joe Biden. He says that deal also needs to include the elimination of the across-the-board budget cuts known as sequestration.
Bernstein emphasizes he’s not a huge fan of the proposal, but says it’s part of the political game—a game that Obama is not getting right, he argues. Obama’s chained CPI proposal should have been embraced only as a true concession, not an out-of-the-starting gates offer, Bernstein says. “My game theory says keep your offers off the table until you’ve got their offers,” Bernstein wrote on his blog last week."
BO was just another Republican lying about who he was. Like Pelosi, Biden and all of the Neo-liberal “centrist”.
Obama pushed for CCPI. Most of the Dems running for Prez are cut from the same rightwing cloth. What make you think it would get changed back?
Maybe Congress should not have a retirement system They should be on social security too, and that would make it a worthy system, all of a sudden , wouldn’t it. They will just have to put money away like ordinary workers do. In fact, presidents and Congress people should be on it also.
And if presidents can’t save something out of their $400,000 a year presidential pay —then maybe they are a truly dumb candidate for president. Put the whole nation on social security—that would make a big difference.
MAybe so. Pelosi 's net worth is $120 million (at least THAT is how much is reported) so she has no incentive at al to work on behalf of the 99%
The wealthy hate SS, and they have always tried to undermine it since FDR…Just because you put a D before your name doesn’t mean squat. Neoliberal Dems or Neoliberal Repubs are exactly the same people. At $170,000 a year for an incoming congresscritter, you are instantly in the top 1% income bracket in this country, so why would anybody below that think they give a flying rat’s ass about them?
It’s astonishing just how ignorant people locked into ideology are regardless of the supposed party they belong to.
I’ve got 18 months before I file for benefits…at 66. Until then I’m living on about what I was making running a small surf shop/fiberglassing shop in 1981 in OB San Diego…which was okay to live on then but it definitely is below poverty level now.
To be honest, I’m surprised SS hasn’t been dumped into Wall St or canceled outright. I thought Reagan was gonna do that 39 years ago… If I do get approved it will instantly double my income. That will be a novel experience!
“Social Security expansion is now the official position of the Democratic Party” plus three bucks buys a cup of coffee. Obama didn’t change his mind…Mitch jettisoned the Grand Bargain because he wanted the GOP to get credit for the chained CPI, not the Dims. I believe that the December 2017 tax cuts included a chained CPI clause, so this is not the first chained CPI bomb to fall.
The CPI and other US gubmit metrics have been skewed in favor of the 1% at the expense of the 99% at least as far back as Raygun’s 1984 re-election. Chaining it is just the latest perversion.
This is a country with a 100% Corrupt, Inverted-Corporate-Totalitarian, Police-State Government. This government is the framework, vehicle, or platform that the Rothschild Jewish Criminal Banking Cartel, Major Industry, the Vatican, Israel, a few super-wealthy families and individuals utilize to control all wealth, power, status-quo, resources, opportunities, and propaganda, which causes world-wide oppression, impoverishment, and muredering of everyone else on the planet. There’s only one way to deal effectively with this cancerous-blight on humanity, and that is to totally destroy it primarily by Guerilla Warfare, and it can be done by as few as 3-5% of the population.
Can someone explain the derivation of the terms used in the chart: “CPI-W” (apparently the current system for calculating increases), and “CPI-E” (the method that would maintain buying power of SS benefits). Like, why those letters W and E? Also, why “chained”? Chained to what?
“Chained” means that when the price of meat increases the CPI assumes you move down the food chain and substitute catfood for meat, and adjusts downward accordingly, rather than the CPI adjusting upward to compensate for increased meat price as it previously did.
That is why Obama’s Simpson-Bowles Commission that was crafting the 2011 grand bargain was called the catfood commission.
Yearly raises for social security recipients are mostly smoke and mirrors. Some years we get nothing and some years we get .6%. This year was a little better with emphasis on the little. Supposedly our raises are geared to inflation but the cost of living keeps going up, but not our SS checks. When we do get a little raise it is gobbled up by an increase in Medicare costs. Many seniors like me are falling further behind and are running out of our savings.
Maybe the Representatives and Senators should be required to divest all wealth beyond double that of what the median wealth in their area is, and then after serving they would be given a pension of double the median income in the areas that they represent. For the vast majority of us this would be quite generous and fair compensation for the service, and the tying of their future income to that of their constituents could help to focus their attention, compassion and concern on the longterm future well being of the people that they represent. I admit that such restrictions on the wealth of our public servents would discourage many of the wealthy from serving, but that would also serve to reduce the alarmingly high porportion of Representatives and Senators who rather wealthy to more reasonable numbers for a democratic system.
I remember when Obama created the Catfood Commission. The mission of the Catfood Commission was to propose Chained CPI. That is why Obama appointed two anti-New Deal Zealots to head up the commission. Remember Simpson’s 300 million sucking the government teat? Simpson failed to mention that we already paid for the milk. Obama was a Trojan Horse.
Woah - lets clarify once and for all… these people are not “hostile” to Social Security et al, NOT IN THE LEAST - THEY COVET IT.
Chained CPI? Only for fools - Aretha Franklin got it right across the board… waaaay back when
So what is the weak link here?
If the people move to eating dog food because they can no longer afford human food, then they need less money because they are getting their food cheaper. Then if they reduce their consumption of .dog food because they are short of money, then they need less money because they are spending less on their food. The same applies to drugs, and everything else.
With chained CPI we could really push social security payments down, further and further, iteration after iteration, with each reduction forcing another, to nothing…
It is not Trump mounting a sneak attack. It’s those who want to put MEDICAID into our Retirement program (MEDICARE) that is the death Knell.
In 1968 there were 51 workers for every person on disability.
NOW there are 13 workers for every person on disability. https://www.zerohedge.com/news/2013-05-09/number-us-citizens-disability-now-larger-population-greece
Some states use it like perpetual UNEMPLOYMENT. Make sure VETS get it first!
Oh those ideas make sense, thank you. I like your idea of divesting from wealth that might have its fickle fingers already clawing into the elected ones. In fact— are elected officials allowed to buy stock? I am worried that so many have stock in those war businesses, that except for that one Congress person, Barbara, Lee, no one else joined her and it seemed like Congress just gave away their right as the ONE GROUP to have the right to declare war before anyone could go. If Congress gives up again and lets Bolton and Pompeo win, then Congress, you aren’t worth much to anybody anymore. : (
For Dumbf and his fellow $adists in Congress, this is entirely predictable.