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Now the President may propose cuts in Social Security by a device called the Chained CPI. It works this way - when prices go up, consumers simply shift their dollars to like-products that are cheaper. So instead of pegging Social Security increases to the real rate of inflation, by using CPI, Social Security increases are pegged to this lower substituion rate.
Social Security is not even a small part of our nation's budget problem.
Therefore it should not even be a small part of the solution to this problem.
The real problem is the GOP & their calcified brain cells.
That's where stem-cell research could be useful.
Maybe we could take some brain tissue from Eric Cantor, John Boehner, Paul Ryan, Mitch McConnell and grow some recombinant stem cells and then implant back into their respective brains and jump-start their moribund brains.
Or better yet, just keep on bleeding the defense budget until the GOP agrees to some revenue measures.
The evidence of the real negative effects that result from shutting off government stimulus is pretty clear from this morning's jobs report. Remember, the Sequester went into effect on March 1st.
Only 88,000 new jobs were created in March. Economists expected at least 200,000. That's a far cry from the 266,000 new jobs created in February.
The bottom line is that government stimulus - such as through Social Security - is keeping this economy from tanking.
A generally accepted economic maxim is that for every $1 in gov't spending through government programs like SSI & UI, $1.70 is generated within the economy.
To short-circuit this positive multiplier effect on our economy by enacting a Chained-CPI is completely insane.
A pox on your house Mr. President.
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It's good to talk.