Chained CPI is toxic

[ProSense]

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UPDATE: 4:30 p.m. -- Republican senators leaving a GOP conference meeting Sunday afternoon told reporters that they are dropping chained CPI from their fiscal cliff proposal.

"CPI has to be off the table because it's not a winning argument to say benefits for seniors versus tax breaks for rich people," said Sen. John McCain (R-Ariz.). "We need to take CPI off the table -- that's not part of the negotiations -- because we can't win an argument that has Social Security for seniors versus taxes for the rich."

"There's a realization that in spite of the president's apparent endorsement of a chained CPI, that that proposal deserves more study," said Sen. Susan Collins (R-Maine). "My guess, based on what Democrats are saying, is that that reform would not happen during this stage of the negotiations."

"I don't think anybody ever expected Social Security to be part of this," said Sen. John Cornyn (R-Texas). "It's all going to be about taxes of some kind or another."

http://www.huffingtonpost.com/2012/12/30/fiscal-cliff_n_2384726.html

Lindsay Graham: I Will Destroy America’s Solvency Unless The Social Security Retirement Age Is Raise
http://www.democraticunderground.com/10022097831

[leftstreet]

1. Then why is Obama for it? n/t

[ProSense]

2. To upset you? n/t

[ProSense]

3. GOP Drops Social Security Cut Demand In Fiscal Cliff Negotiations

GOP Drops Social Security Cut Demand In Fiscal Cliff Negotiations

Just hours after GOP efforts to include a Social Security benefit cut in a last minute deal to avoid the fiscal cliff ground negotiations to a halt, Republicans backtracked.

After a Republican conference meeting in the Capitol on Sunday evening, numerous senators emerged to announce that Senate Minority Leader Mitch McConnell would retract his request to include the so-called "chained CPI" measure in any short-term budget deal.

http://livewire.talkingpointsmemo.com/entry/gop-drops-social-security-cut-demand-in-fiscal