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Progressive groups win one for the people: How Social Security was Saved.
The release of the White House’s 2014 budget in April 2013 was a stomach-churning occasion for American seniors who depend on Social Security.
In an effort to woo the austerity-now crowd, President Barack Obama included in his proposal a new formula to calculate Social Security cost-of-living adjustments: the chained consumer price index, or chained CPI. Presented as a harmless technocratic fix, chained CPI would have hit America’s retirees in the pocketbook by reducing their Social Security cost-of-living increases.
In an effort to woo the austerity-now crowd, President Barack Obama included in his proposal a new formula to calculate Social Security cost-of-living adjustments: the chained consumer price index, or chained CPI. Presented as a harmless technocratic fix, chained CPI would have hit America’s retirees in the pocketbook by reducing their Social Security cost-of-living increases.
Great article tracing the grassroots pushback against chained CPI. The rebellion against third way and their allies started small and snowballed into an influential political force. Yes we can!
http://inthesetimes.com/article/16399/how_social_security_was_saved