Upload

Loading icon Loading...

This video is unavailable.

Chained CPI Is War On Social Security

Sign in to YouTube

Sign in with your Google Account (YouTube, Google+, Gmail, Orkut, Picasa, or Chrome) to like Hyper Blogging's video.

Sign in to YouTube

Sign in with your Google Account (YouTube, Google+, Gmail, Orkut, Picasa, or Chrome) to dislike Hyper Blogging's video.

Sign in to YouTube

Sign in with your Google Account (YouTube, Google+, Gmail, Orkut, Picasa, or Chrome) to add Hyper Blogging's video to your playlist.

Published on Nov 11, 2012

12/30/2012 "It became clear that they are insisting on chained CPI as part of the deal. And they consider doing any [tax rate] threshold as a concession," the Democratic aide said, referring to the debate over extending lower Bush-era tax rates only for income below a certain level. Democrats want to preserve the lower tax rates only for income under $250,000, while the GOP is pushing for a higher threshold.

Reid came to the Senate floor a second time on Sunday to make the point clear. "We're willing to make difficult concessions as part of a balanced, comprehensive agreement, but we'll not agree to cut Social Security benefits as part of a small or short-term agreement, especially if that agreement gives more handouts to the rich," he said.

Democrats had signaled some willingness to entertain the chained CPI, but only with other concessions from the GOP, such as giving President Barack Obama the power to raise the nation's debt limit.

"The idea was if you are going to do debt ceiling, you would then do chained CPI," the Democratic aide said, speaking anonymously because talks are ongoing and extremely sensitive. "They can only ask us to make that concession in that pairing. We are not going to do anything with chained CPI now [without a debt ceiling deal]. That's a poison pill."

Before; Obama Plots Outside Game To Leave Washington, Add Pressure On Lame-Duck Congress
http://www.huffingtonpost.com/2012/11...

"This is a confidential document, last offer the president -- the White House made last year to Speaker Boehner to try to reach this $4 trillion grand bargain. And it's long and it's tedious and it's got budget jargon in it. But what it shows is a willingness to cut all kinds of things, like TRICARE, which is the sacred health insurance program for the military, for military retirees; to cut Social Security; to cut Medicare. And there are some lines in there about, "We want to get tax rates down, not only for individuals but for businesses." So Obama and the White House were willing to go quite far.

Info on Chained CPI here: http://hypermedianews.blogspot.com/20...



The Great Betrayal -- and the Cynicism of Calling It a Grand Bargain

http://www.huffingtonpost.com/william...


Kuttner wrote to warn that Obama intends to seek a "grand bargain" causing the U.S. to adopt the type of austerity program that threw the Eurozone back into a gratuitous recession.
Worse, Obama intends to begin to unravel the safety net (Social Security, Medicare, and Medicaid) to convince the Republicans to enter into this Faustian bargain. Just as only a conservative Republican could visit "Red" China, only a Democrat can begin the destruction of the safety net. The difference, of course, is that normalizing relations with China was a good thing while unraveling the safety net is a terrible thing.

chained CPI inflation Grand bargain social security AARP retire taxes

Loading icon Loading...

Loading icon Loading...

Loading icon Loading...

Loading icon Loading...

Ratings have been disabled for this video.
Rating is available when the video has been rented.
This feature is not available right now. Please try again later.

Loading icon Loading...

Loading...
Working...
to add this to Watch Later

Add to