Howard Dean Says Obama May Drive Him Out Of The Democratic Party

By: Friday April 19, 2013 11:11 am

Obama’s recent budget proposing cuts to Social Security and Medicare while restoring military spending is not going over well with the former Chairman of the Democratic Party. Howard Dean is so outraged by Obama’s assault on the middle class he is threatening to leave the party he once led. Dean doubled down on his threat [...]

Democrats Push Back Against Obama Budget As Republicans Take Advantage

By: Thursday April 11, 2013 6:11 am

Visit NBCNews.com for breaking news, world news, and news about the economy Call it a miscalculation. Even some of President Obama’s strongest supporters in Congress have come out against his plan to cut Social Security and Medicare, not to mention the activists who put together a 2.3 million strong petition against the plan. Other than [...]

Obama Budget Splits The Democratic Party

By: Monday April 8, 2013 5:59 am

President Obama’s proposal to cut Social Security and Medicare has fueled a civil war within the Democratic Party. The social insurance programs are considered by many Democrats to be the party’s greatest achievements in the New Deal and Great Society, respectively. Obama’s alignment with Bush style Neoliberalism has provoked the progressive wing of the party to [...]

Obama Wants Cuts To Social Security

By: Friday April 5, 2013 5:54 am

President Barack Obama has once again started his negotiations by scoring into his own net. In what may be the dumbest plan yet proposed, Obama has offered cuts to Social Security hoping for a change in the Republican’s position on tax loopholes for the wealthy. President Barack Obama’s proposed budget will call for reductions in [...]

Hoyer Pushes Plan to Pass Obama Offer With Bipartisan Mix

By: Friday December 21, 2012 11:39 am

So Democrats have reached the bargaining phase of the fiscal slope debacle. It’s hard to say whether they’re pushing this because they think they have an opportunity to avoid the austerity bomb or because they know they have no partner on the other side, but either way, the result is the Democratic leadership, at least [...]

Pelosi Says Chained CPI Would Strengthen Social Security

By: Thursday December 20, 2012 7:45 am

Republican craziness has stopped a deal from happening on the fiscal slope, and really nothing else. Because here’s Nancy Pelosi yesterday on chained CPI, a benefit cut to Social Security recipients that happens to be regressive and more painful as people age: Q: Members of your Caucus are organizing against the chained CPI that the [...]

Though Liberals Carp at Chained CPI, Pelosi Says She Could Live With It

By: Tuesday December 18, 2012 2:20 pm

Many of what would be described as the liberal left of Congress have weighed in against using the chained CPI to calculate cost of living increases in Social Security benefits. Here’s a representative sample from Sen. Jeff Merkley: We had an election, and the voters sent a message to Congress to focus on jobs and [...]

More on Chained CPI, the Benefit Cut for Social Security on the Table in Fiscal Slope Discussions

By: Tuesday December 18, 2012 6:45 am

First of all, this is a benefit cut of about 0.3% a year, as Dean Baker points out. He adds that “This loss would be cumulative through time so that after 10 years the cut would be roughly 3 percent, after 20 years 6 percent, and after 30 years 9 percent.” Actually if we started using chained CPI in 2002, we’d be 3.6% behind today. That’s well over $1,000 a year, and the situation grows worse over time. So the greatest impact would be on the oldest seniors, which happens to correlate with the poorest.

Obama’s Latest Fiscal Slope Offer: I’m Missing the Part Where Republicans Give Up Something

By: Tuesday December 18, 2012 6:00 am

The headlines here is that the Obama Administration narrowed the demand they maintained for four years, for tax rates to increase above $250,000, and they would agree to a benefit cut for Social Security and $400 billion in unspecified Medicare cuts, and in exchange they would mostly extend current law on a few fronts (but not all) and get an unspecified amount, no more than $50 billion, in infrastructure spending.

What Chained CPI Means, and Why a Cut in a Time of Inadequate Social Security Benefits Makes No Sense

By: Monday December 17, 2012 2:45 pm

Let’s just make clear what chained CPI is all about. The idea here is that you should not measure the cost of living simply based on the consumer price index, and then raise the costs accordingly with the rise in prices. Instead, economists say, you have to account for the substitution effect in response to [...]

Boehner in Bargaining Phase: Calls for Millionaire’s Bracket

By: Sunday December 16, 2012 9:31 am

House Speaker John Boehner’s latest offer sheet to the President in the fiscal slope negotiations includes an increase in tax rates on people earning $1 million a year, the first time that the Republican leader has proposed any tax rate hike. The White House, seeking rises on tax rates above $250,000, rejected the offer. Boehner [...]

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