New York Times: Chained CPI “Misguided.”

The New York Times editorializes against using the chain-weighted CPI to calculate Social Security COLAs:

“As the next round of deficit reduction talks gets under way, the administration seems determined to include the COLA cut in any new package of spending reductions. Rather than using the issue as a bargaining ploy, the administration appears to have embraced it as a worthy end in itself.”

“Is it? In a word, no.”

“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.”

Click here to read the whole editorial.