Obama puts Democrats in bind with Social Security concessionQuicklink submitted by Sheila Samples Permalink
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|President Barack Obama has put Democrats in Congress in a tough spot politically after he conceded to Republican demands in the "fiscal cliff" negotiations that the government use a lower inflation index for calculating federal benefits. Known as the "chained consumer price index," or chained-CPI, the index would help the government tackle the budget deficit by changing inflation adjustments for Social Security and other government beneficiaries, w hi le effectively raising taxes for other Americans. That has put Democrats in a quandary because the White House is essentially asking them to avoid the year-end fiscal cliff of spending cuts and tax hikes by, in part, reducing federal retirement benefits for tens of millions of Americans.|
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