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News Link • Economy - Economics USA

For The First Time, There Are Reports About Obama Blinking On Entitlements

• Business Insider
 According to the report, Obama is considering a Social Security CPI change. What that means, via Bloomberg:

Switching the inflation yardstick to the so-called chained consumer price index would reduce Social Security cost-of-living benefit increases and generate fresh revenue because it also would reset income-tax brackets. Some Democrats in Congress have said they’re willing to make that change.

The Congressional Budget Office estimated in 2011 that a tweak to the so-called chained CPI could save as much as $145 billion through 2021.

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