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Obama’s Chained CPI Is A Permanent Cut To Earned Benefits.

Snapshot 2012-12-18 07-10-09


As my colleague Arthur has just let me know, the chained CPI will affect people like him immediately. He’s really exasperated by Obama’s latest sell-out of the social insurance Arthur depends on. Even Dean Baker is getting raspy in his crisp, curt, and annulling criticism of the chained CPI. This latest offer to cut the shining star of the New Deal hurts a lot of people who have had their retirement plans smashed already by the 2007-2012 Depression. Savings took a hit. Pensions have taken a hit. 401ks have taken a hit. Real estate values of homes have fallen and flattened. If you are one of the long-term unemployed and you are close to 62 and grabbing early retirement, Obama’s chained CPI just feels like pulling the rug out from under the last hope.  If you are a parent looking at your children’s future retirement programs for 2050, you can see that the Bowles & Simpson plan is an insult to anyone who can read the number for year 2050: in 2050, the range of benefits for the kids under the Stupid’s plan is between 8K and 14K. Just awful.

But Arthur speaks the truth. How can we let Obama and his dance partner steal his hard earned Social Security benefits, let Arthur twist in the wind??  I try to put on my reasonable voice and start xplainin’, the condescending stuff that women and kids hate for me to do. Then I realize that I share Arthur’s frustration and perhaps he shares my anger too. This is betrayal and Obama has been telegraphing these moves since 2009 and keeps trying to hide behind GOP suggestions that Obama make the cuts to social insurance programs which we now know he’s house proud to do… long as the other players take the blame. Hells Bells.

Let’s turn our justified anger into contempt. If Obama wants to ride in the GOP shit mobile, let’s let him make the cuts his own. Let’s call this chained CPI, the Obama negative compound interest, shit sandwich for Social Security recipients, Veterans, Federal pension recipients and so on. Every time there’s been a crisis, Obama has turned solutions to crises into gobbledeegook with a side plate of money for some private corporations.  Wall St. gets a chained CPI low-interest loans guarantee. More almost ‘free money’ for gamblers at the banks. From the wallets of decent, hard working persons to scumbags at desks singing the ‘full Orszag’.

Two lies they tell to sell their crap deal:  “we’ll provide a basic benefit”, a floor to protect the poor. Nonsense. Unless you consider living at the Federal Poverty Level a basic benefit.  “We’ll give 85 year olds a 5% benefit boost to make up for their loss in benefits.”  Nonsense. Notice how if they cut them 5% over twenty years, then give them 5% more at twenty years out, they still make out like bandits.  Obama’s CAP team call their 400 billion in cuts to Medicare and Medicaid, The Senior Protection Plan. It is Orwellian. Because it means the opposite of what it says it means.

Contemptible Obama’s CPI is called ‘a more accurate gauge of inflation’ when it deliberately underestimates the increase of inflation. That’s how it saves money. We are not stupid. Bowles and Simpson, are. Arthur, I think I am ‘over’ asking politely if Senators want to stick to their promises to defend Social Security. We know that once the chained CPI is in place that it will take an earthquake in the future to ever change it back and to improve it again. So all of those lies about how changes are being made to protect our children are lies. They are screwing our children and their children……They also said, “If you are over 55, you don’t need to worry.” Of course the chained CPI affects everyone the day it goes into effect, everyone regardless of your age. Contemptible lies. Arthur, it’s disgusting and horrifying. Where’s Senator Reid? Where’s the no-cuts Progressive Caucus?  Are they just a bunch of speechless, empty ghosts?

Arthur, who is more contemptible? Obama and his fierce ideology of urgent cuts, or all of the liberals lining up to say the chained CPI ‘ain’t so bad’? Social Security is not dysfunctional or even feverously ‘ill’, but Reagomatic- Obama and his sycophants are.




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