The “Grand Bargain” — the mythical agreement between Democrats and Republicans to cut entitlement spending — has died…
A lot of the credit, people on and off the hill say, goes to outside progressive groups who began the momentum against the “”chained CPI”” cost-of-living adjustment, which cuts Social Security benefits by recalculating the growth of benefits with an index that doesn’t rise as quickly as inflation…
The Progressive Change Campaign Committee was one group that put the Social Security cuts at the forefront of its advocacy. And in July, it led a big strategic shift that would keep swinging the conversation — it decided to “”stop playing defense”” and go on offense, leading the push to expand Social Security benefits.
It rallied in support of bills to strengthen Social Security benefits. One such proposal was a bill from the liberal Sens. Harkin and Brown, which would increase benefits by undoing the cap on payroll taxes at $113,700…
“This is a huge progressive victory — and greatly increases Democratic chances of taking back the House and keeping the Senate,”” PCCC co-founder Stephanie Taylor said after Obama announced he was dropping the cuts from his budget on Thursday. “”Now, the White House should join Elizabeth Warren and others in pushing to expand Social Security benefits to keep up with the rising cost of living.”