Chained CPI Will Cut Benefits Immediately

2017-11-07T15:31:15+00:00February 2nd, 2015|Equal Time|

 

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.”

Source: NPR’s “Here & Now”

Senior Business Editor: Marilyn Geewax

 

Correction:

ally, all economists don’t suggest cutting Social Security and Medicare to pay down the deficit.  Far from it.  Clearly NPR needs to work on expanding its sources beyond Washington’s billion dollar anti-Social Security, fiscal hawk lobby.  Here are just a few respected economists and their writings to help get NPR started:  Nobel Prize Economist, Paul KrugmanCenter for Economic and Policy Research Economist, Dean Baker, and Economic Policy Institute Economist, Monique MorriseyCenter on Budget and Policy Priorities Economist, Paul Van De Water,  and Henry Aaron, Social Security Advisory Board and the Brookings Institute.

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.