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Social Security

Posted: February 25, 2014 10:07 a.m.
Updated: February 26, 2014 5:00 a.m.

Last year President Obama approved a budget plan that would change the way Social Security increases are calculated, moving them from a process determined by the consumer price index to one set by a process known as chained consumer price index. That was encouraging to the millions of Americans who are concerned about the runaway spending problems that are threatening the nation’s economy. Many economists favor the chained concept as being a more accurate way to measure the rate of inflation.

Lots of Democrats in Washington pitched a fit. Of course, Obama was not advocating cuts in Social Security; he was merely saying that the increases shouldn’t be based on a rate that exceeds actual inflation. Now the president, as we face mid-term elections, is backing down on his earlier budget, saying he won’t support a rate backed by the chained concept. For those who believe in fiscal responsibility, it’s a discouraging sign but all too common to big-spending capital lawmakers who, it seems, cater to the “more spending” mantra that has ruled for so long.

One former aide to Senate Majority Leader Harry Reid of Nevada is quoted as saying Obama’s move signals that the breach between the two parties is growing even wider, and that little will get done in Washington this year. That’s just one more step backwards for the country and for people who believe that the spending fiasco has grown to a point where it can’t be stopped.


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