Why the Chained CPI is Wrong for Social Security

Yesterday, the President included Social Security cuts in his budget through a proposal called the “chained CPI”. Let’s take a minute and break down exactly what that means: The chained CPI would modify the way the cost-of-living-adjustment (COLA) for Social Security is calculated, cutting benefits by $127 billion dollars over the next 10 years alone. That comes out to over $2000 in lost benefits for the average senior. Some have tried to defend this unprecedented inclusion of Social Security benefit …

Illinoisans Detest President Obama’s Chained CPI Budget Proposal

If Chained CPI is included in the President’s budget proposal, as is being reported today, President Obama is laying out a clear marker that he is willing to cut Social Security and other benefits to balance the budget, which breaks a promise he made when he was elected to office.  On September 6, 2008, Senator Barack Obama told AARP members: “John McCain’s campaign has suggested that the best answer for the growing pressures on Social Security might be to cut cost of …

FAQs: How Do Competing Budgets Compare on Health Care Savings?

From Kaiser Health News Republican and Democratic leaders from both chambers of Congress this week offered competing budget proposals that both look for savings in health care. KHN’s Mary Agnes Carey talks with Jackie Judd about what’s next for the proposals, and what President Obama could offer himself. > > Listen to the audio or read a transcript below. Jackie Judd: Good day, this is Health on the Hill. I’m Jackie Judd. Congressional budget leaders have now laid out their vision for federal spending …

Sequester: Doom or Snooze? 5 Points of View

Everyone’s got an opinion on the sequester, from “the sky is falling” to “ho-hum.” Here are a few more perspectives on the impact of the $85 billion in federal spending cuts that kick in March 1. The sequester saves Social Security. Laura Clawson on Daily Kos Daily Kos staffer Clawson makes the argument that an alternative deal to stave off sequester likely would “gut Social Security.” Social Security and Medicare benefits are protected from the automatic cuts. But she quotes Rep. …

Medicaid Expansion: Size Won’t Be the Only Change

It’s deal time for Medicaid, and the political horse-trading could end up reshaping the health insurance program for low-income Americans. The Obama administration wants states to expand Medicaid to cover millions more low-income adults under the health care law. A Supreme Court ruling left the decision to participate up to each state. And some of them, especially those run by Republicans, have been leery of taking more people into a program that is already one of the fastest-growing items in …

Stop the Sequester (Wait … What’s a Sequester?)

The major budget cuts looming on March 1 are a bad idea, whether you know much about them or not. That’s one takeaway from a new poll by the Pew Research Center and USA Today on issues that are likely to dominate the political landscape this year. By a 9 point margin (49 to 40 percent), those polled favored finding a way around the $85 billion in spending cuts scheduled for military and most domestic programs – known in Washington …