Dean Baker: Obama, Macho Man, wants to Out-Macho the GOP, and cut retiree benefits on seniors

[brentspeak]

while barely raising the income tax on the wealthy. To prove that he is a Tough Guy. And to be taken seriously by the elite whose approval he craves.

http://www.huffingtonpost.com/dean-baker/macho-men-social-security_b_2762806.html

Macho Men, Social Security, and the Chained CPI

by Dean Baker
Posted: 02/25/2013 11:04 pm

In societies across the globe, men demonstrate their manhood in different ways. There are many wonderful tracts on the topic. However, in the culture of Washington, D.C., the best way to demonstrate your manhood is to express your willingness to cut Medicare and Social Security. There is no better way to be admitted into the club of the Very Serious People.

This is the reason that we saw White House spokesman Jay Carney tell a press conference last week that Barack Obama is a macho man. He told the reporters that President Obama is still willing to cut Social Security benefits by using the Chained CPI as the basis for the annual cost-of-living adjustment (COLA). This willingness to cut the benefits of retirees establishes President Obama as a serious person in elite Washington circles.

While most of the D.C. insiders probably don't understand the Chained CPI, everyone else should recognize that this technical fix amounts to a serious cut in benefits. It reduces benefits compared with the current schedule by 0.3 percent annually. This adds up over time. After someone has been getting benefits for 10 years, the cut in annual benefits is 3 percent. After 20 years, people would be seeing a benefit that is 6 percent lower, and after 30 years their benefit would be reduced by 9 percent. (AARP has a nice calculator that shows how much retirees can expect to lose from the Chained CPI.)

snip

So there we have it, a Democratic president in the White House, along with the many of the top Democrats in Congress, who is willing to give seniors a larger hit to their income than he is to the income of the wealthy. It sure makes you admire their toughness.

[ProSense]

1. Democrats

"So there we have it, a Democratic president in the White House, along with the many of the top Democrats in Congress, who is willing to give seniors a larger hit to their income than he is to the income of the wealthy."

...in Congress didn't vote to cut Social Security.

Statement from the President (on filibuster of Democratic sequester replacement)
http://www.democraticunderground.com/10022443634

[Skink]

2. Democrats can filibuster to

[southernyankeebelle]

3. As usual women will be hit harder unless they had been married. I know I retired

at 62 yrs old. I just couldn't continue working with medical issues and I had applied for disability and they turned me down. I said screw it because am not going to fight for it. I knew I was within a few months of retiring. But OMG I make less than $900 a month in retirement. Now that I'm 65 they are taking out medicare. Honestly I don't know what I would do if I wasn't married. I know there are many single retires who will have problems with these cuts. If they do this I will be so disappointment in Obama and the democratic party.

[Skittles]

4. wow

I'm impressed I am not the only one who sees that craving for approval

[bvar22]

5. This Liberal wasn't afraid to STAND for Social Security!