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
- Definitely broken: City's winter parking ban - 2
- What Congress? Obama's 'easy way out' - 23
- Closing classrooms: Relief for Webster, Beech Street schools in Manchester.? - 1
- Unwanted professors: How does one get fired at UNH? - 15
- Bumped for Benghazi: A reporter is held accountable - 2
- Dangerous Iran deal: Weakening sanctions is senseless - 2
- Freedom? Thanks for nothing, Obama - 82
- Christmas spirit: For whom do you shop? - 4
- American blessing: The Pilgrims and self-reliance - 20
READER COMMENTS: 0
- Convicted drug dealer arrested in Nashua on more drug charges - 0
- Former Plaistow finance director charged with theft - 0
- Police: Laconia man threatened harm to toddler - 0
- Hooksett officer struck by motorist - 1
- UPDATE: Thornton woman dies after being struck by car in Campton - 0
- Sen. Ayotte pushes for bigger broadband bang for buck - 0
- Somersworth man dies in head-on crash with car driven by Dover City Councilor Michael Weeden - 1
- Hanover’s Grabill named top regional soccer coach - 0
- Londonderry's Aliza Simpson chooses UNH for basketball - 0
Somersworth man dies in head-on crash with car driven by Dover City Councilor Michael Weeden
Ex-Tyco CEO granted parole
What Congress? Obama's 'easy way out'
Boy wounded by bullet was to be released
John DiStaso's Granite Status: Scott Brown cites NH as example of Obamacare 'trainwreck,' will keynote NHGOP event