The trust fund is solvent long enough to get a good portion of baby boomers through their retirement. And if our economy continues to improve, it will be solvent much longer than that.
If the problem were a depleted Trust Fund, then President Obama would not have advocated for cutting the payroll taxes. Obama was a proponent of cutting the payroll taxes, and he apparently wants to continue the cuts, so that means he is not doing this because he is concerned about depleting the trust fund.
Besides, Carney stated that they are considering adopting chained CPI for all government programs.
I wonder whether they would adopt it in figuring out farm subsidies. That would be interesting.
I wonder whether the CPi would go up if poor people simply spent more and borrowed and went into even more debt.
This is the most unsound economic policy yet.
The reason that I say that is that it discourages poor people from trying to save. It is a disincentive to trying to make ends meet without debt.
If people live on their income and save a bit, then the chained CPI results in their receiving less money. That is crazy. Absolutely the opposite of what we need in a country that is impoverished due to too much debt.
Once again, this policy is a banker's dream and a mother's nightmare. On top of that, it is sexist. Women live longer than men in this country in general. Thus, we have more women in their 80s and 90s than men. That means that women will be the ones whose Social Security and other benefits are reduced right when they are the most helpless and likely to need expensive medications and medical aids such as wheel chairs and home assistants.
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