President Obama has proposed enacting chained CPI, which would reduce spending on Social Security benefits by $200 billion over the next ten years. This has provoked outrage from progressive groups, and from groups representing seniors and veterans (whose benefits are also impacted by this change).
But something that has gotten less attention is the fact that President Obama’s budget also gives twice this much money — $400 billion — to the Pentagon over the next decade, by reducing sequester cuts down to $100 billion rather than $500 billion over the next ten years.
That means that Obama is essentially cutting Social Security’s budget by $200 billion while giving twice that much money to the Pentagon. Last night, former Democratic National Committee chairman Howard Dean tweeted that this sort of deal is enough for him to become an independent.