Reich Decodes the Chained CPI
This week, President Obama proposed to reduce the national deficit by adopting a new formula for adjusting for inflation in Social Security payments. Robert Reich points out that it would be "stingier than the current one." Frankly, it would destroy Social Security over the next two decades as prices for goods and services rose and the program wasn't allowed to keep up.
This week, President Obama proposed to reduce the national deficit by adopting a new formula for adjusting for inflation in Social Security payments. Robert Reich points out that it would be “stingier than the current one.” Frankly, it would destroy Social Security over the next two decades as prices for goods and services rose and the program wasn’t allowed to keep up.
The formula used to tally the payments is known as the “Chained CPI.” The CPI (consumer price index) is used to include the costs of goods and services that pension recipients purchase.
— Posted by Alexander Reed Kelly.
karinmoveon:
TRUTHDIG’S JOURNALISM REMAINS CLEARThe storytellers of chaos tried to manipulate the political and media narrative in 2025, but independent journalism exposed what they tried to hide. When you read Truthdig, you see through the illusion.
Support Independent Journalism.
Editorial Cartoons
TD Column
In a healthy party, losers get jettisoned and new leaders are given the reins.
Editorial Cartoons
Health & Wellness
The betrayal of trust by the institutions meant to protect Flint’s residents has made them cautious as they look to the future.
TD Original
Reflecting on the systems that maintain racism and separatism in America.
Wounds of War
According to Pentagon policy on “responding to civilian harm”, Defense Secretary Lloyd Austin owes Somalian drone victims an overdue apology.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.