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Does Obama have it right on Social Security?

Roger Showley, U-T SAN DIEGO

Friday, April 12, 2013

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Kelly Cunningham, National University System
Answer: YES

With Social Security running deeper in the red and 25 percent automatic benefit cuts looming in less than 20 years, switching to the Chained CPI is a small but important step to begin addressing the government’s entitlement crisis. The Chained-CPI trends lower by about 0.3 percent per year than currently used CPI measures. The change would not cut current benefits, but begins the process to reduce future overestimates in cost of living. It also results in slightly higher tax bracket adjustments for rising income levels. Another step would be to raise graduated age requirement to begin receiving Social Security payments.