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I am just trying to understand this, folks. Help me out a little.
You are upset. No, strike that. You are steamingly OUTRAGED!! that PBO would DARE propose Chained CPI (even though most non-economists have never even heard the term before).
According to some people who act like they know the hell what they are talking about, this is the worst case scenario of the proposal:
Basing the COLA adjustments on the chained CPI instead of on the traditional CPI would cut the typical 65-year-old's benefit by $130 per year, but after 30 years of retirement that person's annual income would be $1,400 less, says the National Committee To Preserve, Social Security & Medicare.
When the White House says:
We will be seeking all of the protections that are essential
You don't believe them. You don't think this WH will ever fight for ordinary folks.
You don't trust Barack Obama and you never have. You have been vindicated. He is the Caver-In-Chief. He betrayed you. He has no balls. When are we going to retire that one?
Balls symbolize strength? I digress...
Instead you recommend that we jump over the cliff. According to some economists (again) those who seem to know what the hell they are talking about, jumping over the cliff will mean:
American households face an average tax increase of $3,500 if Congress doesn't act to avert the fiscal cliff, according to a new analysis from the Tax Policy Center.
The debt ceiling, unemployment benefits, tax refunds, Medicare reimbursement, State poverty progams are just some of the areas which will be negatively affected when/if we jump over the cliff.
But you say jump because the president will get a chance to fix it after. You say his hand will be made stronger. Even though we'll still have Boehner where he is with all of his teabagging congresspeople.
In other words, you have faith that PBO will do the right thing after we jump over the fiscal cliff, but no such confidence that he will do what he promises with chained CPI before we jump?
Hmmm...that makes perfect sense.
As you were!
(Note: This diary is not meant to take one side over the other. I am conflicted. Jumping over the cliff could mean that we are prepared to sacrifice this generation for the greater good. I have no faith in the GOP ever doing the right thing so I am not comforted by the thought of what could happen if we jump. It could get pretty scary.)