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8 Deficit Reducers That Are More Ethical – And More Effective – Than the “Chained CPI”

December 19th, 2012 · No Comments

Published on Wednesday, December 19, 2012 by Campaign for America’s Future
8 Deficit Reducers That Are More Ethical—And More Effective—Than the ‘Chained CPI’
by Richard Eskow

News reports say the President’s proposed deal includes the “chained CPI,” which would impose drastic Social Security cuts and tax hikes for everybody but the wealthy. And HHouse Minority Leader Nancy Pelosi says that “Democrats will stick with the President,” even as he capitulates to GOP tax proposals. (Photo: LA Times)ouse Minority Leader Nancy Pelosi says that “Democrats will stick with the President.”

They should both think again.

The “chained CPI” is being offered as part of a “deficit reduction” deal, even though Social Security is forbidden from contributing to the deficit. Even if you accepted this unreasoned act, it remains morally unacceptable to reduce spending on the backs of the elderly, women, the poor, veterans, disabled Americans, and the poor.

It’s even more unethical to do it when other options available could save much more money, And it’s even worse when we see who isn’t “sharing in the sacrifice” – a list that includes hedge fund managers, Wall Street gamblers, billionaires, drug companies, defense contractors, and tax-dodging corporations.

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