Strong indications that Obama really does want to cut Social Security benefits

[ProSense]

30. "That is not to say that Social Security should be off the table. "

That is not to say that Social Security should be off the table. There are reforms that are eminently sensible, if only the political will could be found to enact them. But reducing the COLA is not a sound idea now and may never be...the Bureau of Labor Statistics develop a statistically rigorous index to track inflation as experienced by retirees. A more informal index from the bureau that looks at the effects of inflation on the elderly shows that the COLA is too low, not too high, in part because of medical costs. But the number of households sampled is too small to be sure.

A rigorous index would settle the issue of whether the current COLA adjustments are high, low or about right. The fact that some policy makers are willing, even eager, to move ahead with changing the COLA without having developed a more reliable gauge only feeds the impression that they are trying to get away with an unjustified benefit cut.

In the meantime, there are other, well-researched reforms to Social Security that the administration and other policy makers could pursue. For instance, it is well understood that upper-income people live longer than the less affluent. The formula for determining Social Security benefits could be gradually and modestly adjusted to reflect those longer lives, while making the system more progressive and cutting spending. Another sensible reform would be to raise the level of wages currently subject to the Social Security payroll tax, so that it better reflects the income gains of top earners over the past several decades.

What's the point of this editorial?

No, Social Security should "should be off the table." Any discussion about strengthening the program should be separate from deficit negotiations and should never be mentions in terms of "cutting spending."

If they're going to mess with COLA, it should be result in an increase in benefits. They NYT is suggesting raising the age for high-income earners is a good proposal?

One thing everyone agrees with is that raising the cap makes sense.