The main stream media couldn't care less that the U.S. Senate unanimously rejected cuts to Social Security via the 'chained CPI.' But WE should care for the following five reasons ...
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The U.S. Senate unanimously rejected cuts to social security via the “chained CPI” over the weekend, to a resounding chorus of … chirping crickets. Considering that today’s sharply divided legislative bodies rarely vote unanimously on ANYthing — let alone a budget amendment put forward by an elderly, self-proclaimed Democratic Socialist like Senator Bernie Sanders of Vermont — the lack of news coverage is astonishing. This writer’s editor will likely demand citations, which she cannot provide, due to this deafening silence from the chattering classes. Journalist Dean Baker from Truthout attributes this uncharacteristic non-response from the mainstream media to “a clear case of the elite lining up together against the bases of both political parties [according to a recent poll].”
If the chained CPI were put to a vote of the people it would lose in a landslide. But the elites are prepared to use their control of the political process and the media to do everything they can to push this cut forward.
The chained consumer price index (“chained CPI”) would change how the U.S. government measures inflation and adjusts cost of living allowances (COLAs) for Social Security. The consumer price index measures the rate of inflation by comparing the costs of various goods and services over time. (NOTE: The CPI does not track housing prices, and housing is the largest household expense for most Americans.) According to a press release from Sanders’ office, President Barack Obama has been willing to consider the chained CPI as a compromise measure for balancing the budget with an uncooperative GOP, but many Democratic constituencies adamantly oppose it, including the AARP, the AFL-CIO, National Organization for Women, the American Legion, Veterans of Foreign Wars, Disabled American Veterans, and AMVETS.