Quote:“…economists say you really have to do things like reform Social Security and Medicare and the President’s budget doesn’t do that.”
“Switching to this other way of calculating inflation, it’s called chained CPI, blah, blah, blah…whatever that means. But…it’s basically a way of calculating the cost of living increases for Social Security.”
It’s also very discouraging when a major media outlet’s Senior Business Editor doesn’t understand even the basics of a proposal which would cut billions of dollars in benefits to both current and future retirees, veterans, people with disabilities and their families. In the same time it took to tell its listeners “blah, blah, blah…whatever that means” NPR could have given them the truth about what the Chained CPI does mean — benefit cuts starting immediately for millions of Americans still struggling in this economic recovery.