Social Security And The Fiscal Cliff

Interview:
http://onpoint.wbur.org/2012/12/20/social-security

“Chained CPI” sounds like some kind of high-tech torture.  In fact, it’s a way of calculating inflation that may be on its way to cutting Social Security payments.  In the big arm-wrestle of negotiations over the fiscal cliff, “chained CPI” is in the mix.
President Obama wants higher taxes on the wealthy.  Republicans want to rein in entitlements.  Here’s a way to do it.  Whittle back Social Security payments.  Seniors don’t need beef.  They could eat chicken.  Or goat.  Or something cheaper.
This hour, On Point:  Social Security, the “chained CPI,” and how we’ll live beyond the fiscal cliff.

-Tom Ashbrook