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View Diary: If you think sequester will be bad, wait until they gut Social Security (195 comments)

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  •  no context, no way to evaluate (0+ / 0-)

    By itself using chained CPI would obviously be a significant cut is SS.  But it would be part of a grand bargain.  So without seeing the other side of the deal, how can you evaluate whether it's a good or bad deal?

    If the deal results in programs that help revive the economy and get GDP growing, gets tax revenues up and inequality down, in a couple years the budget picture will look fantastic.  And America will be one of the only places in the world that can say that.

    In that scenario, giving up chained CPI would be a great deal.  Because by the time it started to bite, the government's financial situation would be quite different.  

    It will be far easier to restore SS payments to a proper level when the economy is strong than it will be to maintain the safety net without an economic recovery.

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