" I"m sorry. Im not familiar with the term "chain cpi". " And the other day somone had never heard of Darrell Issa or what he represented.
If your gonna debate what is and isnt going on and who is responsible for it going on or not, it helps to have the entire picture when making assessments.
These statements go along way in helping me understand where others are coming from. Simply misinformation or uninformation at the root could be the problem.
And this my friends is where the media fails. With something as important to SS as chained cpi on the table, why does not everyone understand its importance I ask.
Everyone is owned in DC.
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I agree. Short of a revolution though I don't know what we can do about it, except working with what we have and sticking on little bandaids until finally there is a total collapse.
It doesn't look promising but I feel I must add that I am not blaming the Pres for this state .Maybe what he is able to do isn't enough, maybe even if Congress didn't stand in his way at every turn, he would still not be able to fix this ailing country...but it is clear there was nobody else capable of digging us out of this hole either.
I tend to get pessimistic in the evening when I am tired.
Maybe something hopeful will rise with the sun tomorrow, eh?
Budget? Do we have one now?
Still, I think 130 billion over 10 years is nothing. We need to do far more than that when we are screwing off at least that much annually. We don't need a "break even" thing here. We can't afford to break even. We need to gain ground, so if this program saves 130 billion over 10 years, we need about 10 more programs just like it in order to do anything with the deficit.
If we don't change the way things are being done, that deficit and debt will keep growing and all of DC seems to be satisfied with that. I'm not.... and it matters not if one is democrat or republican. I don't think anybody there is doing anything worth a semi positive comment.
Nothings changed regardless of ANYONES promises. If you want change in government, you have to change the way government operates. If you do that, none of these turds would be in anyones pockets and things would improve. So much for that happening. Everyone is owned in DC.
Chained CPI is shorthand for “Chained Consumer Price Index for All Urban Consumers.” In short, it’s a way to index spending and taxes — including Social Security benefits — to the rate of inflation, or the rise in prices over time. But it’s not the only way.
What’s important in the context of the debate over Obama’s budget is that chained CPI would mean Social Security benefits would increase at a slower rate than they do using the current index.
What difference does it make?
As our friends over at Wonkblog pointed out last year, Social Security benefits are currently calculated using CPI-W, or the Consumer Price Index for Urban Wage Earners and Clerical Workers. (Yes, that’s a mouthful.) Over time, benefit levels tick up based on CPI-W, to keep up with the fact that a dollar twenty years ago is not worth what it is today.
Here’s the bottom line: Using chained CPI instead of CPI-W means the rate at which those benefits tick up would be slower, because the former reflects substitutions consumers would make in response to rising prices of certain items.Therein lies the “chained” part of the name. The metric utilizes a basket of goods and services that are measured changes from month to month; much like a daisy chain. If the cost of a certain form of transportation goes up, for example, people might switch to another kind. This kind of “substitution” is part of what is factored into chained CPI.
YOu can't tell me what it is in just in a couple of words? If not... that explains why nothing can get done about cpi.
In your corner of the world, Glass maybe, but it is a big country.