Social Justice

One of the lesser known, but most devastating Social Security cuts being discussed in Beltway circles is the adoption of a new, less generous version of the Consumer Price Index (CPI) for calculating the yearly cost-of-living adjustment (aka COLA) in Social Security benefits. It is called the “Chained”-CPI, which is fitting, because it will chain you to your parents when they have to move in with you for their golden years. Most importantly, it is the only proposed benefit cut that will whack current and future retirees.

When advocates challenge the new formula though, the conservatives and pseudo-Democrats hawking this proposal are no longer even bothering to defend the “Chained” CPI on its merits. (In fact, the current CPI is, if anything, too modest.) They simply coo at how brilliant and “exciting” of a new policy tool it is. Maya MacGuineas’s cheerful performance at a Senate briefing this morning was a case in point. more »

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Progressives really owe Third Way a debt of gratitude. Finally, some austerity hawks that come clean about the true intentions of their proposals to cut Social Security. Unlike Erskine Bowles and Alan Simpson, who were shamed into insisting that their proposed cuts were only for the purpose of “strengthening Social Security,” in Third Way's report, "Saving Social Security,"Jim Kessler and David Kendall effectively admit that cutting Social Security should be a part of deficit reduction. more »

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Third Way's Social Security reform proposal deserves to be judged on its merits. But the outright lies its leaders are spreading about the position of progressive groups on Social Security do not. Plugging their reform proposal in Politico, Third Way's Jim Kessler and David Kendall claim that progressives are denying that Social Security has any problem at all. This is patently false. There is not one progressive group that denies Social Security will face a modest shortfall in 26 years. In fact, thus far, at least four progressive figures or groups have put forward their plans for filling this shortfall. more »

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One of the persistent myths about Social Security is that benefit cuts could be done in a way that would only affect the richest Americans. So let us clarify the issue for those who are confused. Cuts that would have any meaningful impact on Social Security’s finances will necessarily fall on the middle class. Period.

Even if we were prepared to endure the damage that cuts for the rich would wreak on the program, doing so would not shore up Social Security’s finances. There is not enough money in the Social Security checks of the richest men in the country to buy the government an armored Humvee, let alone fill Social Security’s $700 billion shortfall.

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Senate Majority Leader Harry Reid’s appearance on Meet the Press this Sunday was a rare positive moment in a very bad couple of months for Social Security advocates. Reid, who is not known for his gifted oratory, gave the most cogent rebuttal of calls to cut Social Security of any elected official in recent memory. With Democrats out of power in the House, and Obama poised to make Social Security cuts part of a “bipartisan deficit reduction package” ahead of the debt-ceiling debate, Harry Reid may be the only man standing in the way of disaster for America’s favorite government program. Take a look at the full transcript of his remarks below, or click here for a clip of the exchange. more »

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