Who needs Chained-CPI?
Social Security raise to be among lowest in years.
That’s the headline that greeted my logging on to check my email this afternoon.
Preliminary figures suggest a benefit increase of roughly 1.5 percent, which would be among the smallest since automatic increases were adopted in 1975, according to an analysis by The Associated Press.
Great. Two of the smallest increases in history after two straight years of zero.
I will give those arguing for chained CPI one point. They are correct when they say the current measures are incorrect. Yep, I’ll give ’em that point, because according to the currently used method, adding up the last four years together gets a grand total of about 3%. Over 4 years.
Funny, I’ve seen with my own four eyes the prices at the grocery store continue to rise. And I would LOVE to have my same DirecTV and Comcast phone/internet bills from four years ago plus 3%. Give me that today, please. And I don’t believe for a second that the cost of gasoline is up only 3% since 2009. My memory ain’t what it used to be, but I don’t think gas is only up 3% in four years.
Two years of zero COLA, and two years of roughly 1 and a half percent. A TOTAL COLA increase of 3% over 4 years.
I guess with the chained CPI we’ll owe the government money in a few years.
No way in hell this is accurate, and the only “fix” we can expect is to make it worse. What a country.
There are two important points here. One, the “need” for chained-CPI is complete and total bullshit, as the current system already gets it wrong on the low end. And two, seniors are already struggling to keep pace with current law, any changes to benefits should be to see them INCREASED, and anything, ANYTHING in the way of decreases is unacceptable.
I bring those two points up because when those “realists” attempt to lecture anyone that chained-CPI isn’t that big a deal, you’ll be able to call bullshit immediately. And the sad thing is most of those trying to make that argument will be “Democrats.” What a country.