Home » Opinion » Editorials
Chained CPI: Obama's small step
The answer is that the right has tried for years to have the federal government use chained CPI when calculating the annual benefit increases for Social Security, and earlier this year President Obama hinted that he might be open to the idea. The activist left must have felt incredibly disappointed this week when Obama released his 2014 budget and it applied chained CPI to Social Security benefit increases.
This was Obama's big concession to Republicans on entitlements. Chained CPI will slow the automatic rate of growth of Social Security benefits by about 0.2 to 0.3 percentage points. That's it. For that, Obama wants a bunch of new tax increases and to take most other entitlement reforms off the table.
That is hardly a deal fiscally responsible members of Congress - of either party - can take. But the Obama concession on chained CPI is good news still. It is an acknowledgment from the President that the growth of entitlements, including Social Security, is a serious financial problem. It is a small step toward recognizing our fiscal reality.
READER COMMENTS: 0
- Three named to Manchester school posts - 0
- Derry Early Education Program to relocate - 0
- Manchester panel OKs new academic standards, despite Common Core criticism - 2
- Nashua school staff see tests as key to tracking student growth - 0
- Two Manchester schools off 'priority' list - 0
- Nashua officials seek advice on issue of student cellphone searches vs. privacy - 9
- Manchester school district makes bid to run Job Corps center - 2
- NEASC votes to reaccredit Central High - 1
- Londonderry school policy updates sought - 0
READER COMMENTS: 0
- Distracted legislating: Our baseless cellphone ban - 0
- Another View -- Betsy McCaughey: Our free lunch President - 0
- Another View -- Karlyn Borysenko: Workplace bullying is a serious problem, governor - 0
- Workplace abuse: Governor gets one right - 0
- Red Sox pull Lester from Wednesday start amid trade rumors - 0
- Accused Abby kidnapper Kibby had past minor brushes with police - 0
- Police say youths at New Boston underage drinking party resisted arrest - 0
- Man hospitalized following Rochester shooting; suspect still at large - 0
- Muskrats, Swamp Bats split twinbill - 0
Win tickets to see ZZ Top
Win tickets to see the Pretty Reckless
Abby's alleged kidnapper held on $1M bail
When company comes, opt for variety
Dover man sought in Rochester shooting
Supporters are now 'Abby Strong'
Canobie Lake Park shuts down popular ride