Bad policy, bad politics
Sometimes, one has to wonder what actually passes for the truth with our Washington politicians. One of the big whoppers we hear constantly is that Social Security benefits have to be cut in order to reduce the deficit. This is pure malarkey.
Social Security is being used as a bargaining chip in a dangerous game of budget poker. The president included a cut in the annual Social Security cost-of-living adjustment (COLA) in his budget to entice GOP leaders to agree to make the wealthy pay their fair share of taxes. If he's gambling that GOP stubbornness on taxes will prevent the Social Security COLA cut from being enacted, it may be helpful to remember that neither side thought the sequester would happen, either.
This cut, known as the “chained CPI (Consumer Price Index),” is bad policy and bad politics from a president whom seniors thought they could trust.
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