Chained CPI explained

FortLeft

So.  President Obama proposed moving to something called Chained CPI (Consumer Price Index) in his budget.  It looks as if the proposal is probably DOA.  My personal, maybe naive thought is that the President proposed it to show, one more time, that he is open to compromise suspecting that the Republicans wouldn’t accept his offer.  I think he might have expected the outcry from the progressives side.  Maybe he wanted us to protest showing the Republicans that he can put things on the table that his supporters don’t like.  (Sneaky, that man.)  But he needs to make sure the proposal itself didn’t open a crack in a door the Republicans want to open – the subject for a different post.

But since Chained CPI seems to keep popping up  I thought I would try to understand what it is and why it is not so good not only for retirees, but for the middle class taxpayer.

Ezra…

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