NYT Nails It on Social Security and the Chained CPI

"Chained CPI" is the new magic phrase going around Washington these days. This is how the government can cut Social Security and pretend it is not really cutting Social Security.

If anyone has not yet heard the story, the plan is to change the indexation formula for the annual cost of living adjustment by using the chained CPI to measure inflation. It's not worth going into the details (the people proposing it don't care, why should you?), but the point is that the chained CPI would reduce th...