Relevant and even prescient commentary on news, politics and the economy.

Shorter Mitch McConnell: “Zero Social Security COLA Too Generous”

Way to rally the base Turtle Neck!

NY Times: No Social Security Raises Even if Medicare Soars

WASHINGTON — The 60 million people on Social Security will not receive any cost-of-living increase in their benefits in 2016, the government said Thursday, but because of a quirk in federal law, nearly one-third of Medicare beneficiaries could have record increases in their premiums unless Congress intervenes.

CNN: Sources: McConnell floats entitlement changes in high-stakes fiscal talks

McConnell is seeking a reduction in cost-of-living adjustments to Social Security recipients and new restrictions on Medicare, including limiting benefits to the rich and raising the eligibility age, several sources said.

Now it is true that Social Security policy geeks like me and maybe some other readers/contributors to Angry Bear can have an informed discussion on the pro’s and con’s of CPI-U vs CPI-W vs CPI-E vs Chained CPI-W and their respective effects on Social Security “actuarial imbalance” and “unfunded liability over the infinite future horizon”. God knows I am up for that discussion any time and feel free to weigh in on the comment thread.

But you have to be pretty politically brain dead to propose holding the Debt Limit hostage to demands for COLA reductions in the same damn week that SSA announced that COLA would be zero for 2016. Boy that should rally seniors to the polls to vote Republican next year.

Tags: , , , Comments (16) | |