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Wed Dec 19, 2012, 11:59 AM

From the White House transcript: Obama DID include Chained CPI in negotiations. [View all]

These are the words of Jay Carney, White House spokesperson.

Jay Carney's press briefing Dec. 18

Q Yes, Jay, a lot of top Democrats on the Hill, and I think President Obama, spent the campaign season saying, letís not touch Social Security -- it doesnít add to the deficit; we can resolve this issue without going to that entitlement program. What is the Presidentís message to those lawmakers who promised constituents that Social Security would not be touched after the President now has put chain CPI on the table for Republicans?

MR. CARNEY: Well, letís be clear about one thing: The President didnít put it on the table. This is something that Republicans want. And it is --

Q But the Republicans --

MR. CARNEY: -- part of his -- if I could please answer Samís question, Iíd appreciate it. And the President did include it in his counterproposal, his counteroffer, as part of this process, as part of the negotiation process. I would note that this is a technical change -- would be if instated -- to the way that economists calculate inflation, and it would affect every program that has -- that uses the CPI in its calculations. And so itís not directed at one particular program; it would affect every program that uses CPI. There are also -- as part of the Presidentís proposals, he would make sure that the most vulnerable were exempted out from this change.

But letís be clear, this is something that the Republicans have asked for, and as part of an effort to find common ground with the Republicans, the President has agreed to put this in his proposal -- agreed to have this as part of a broad deficit reduction package that includes asking the wealthiest to pay more so that we can achieve the kind of revenue targets that are necessary for a balanced approach to deficit reduction.


If you think I am posting misinformation, feel free to correct me. I don't want a reputation like that.

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