Obama's "Cat Food" Social Security Reform - VideoSubmitted by emalvini on Fri, 04/12/2013 - 12:29
Obama's "Cat Food" Social Security Reform - Video
Friday, 12 April 2013 09:34
By Paul Jay | The Real News Network | Interview and Video
Michael Hudson: Obama's "bargain" on social security reform will push more retirees into poverty in exchange for a minor increase in high end income tax - a class that receives most revenue from capital gains.
PAUL JAY, SENIOR EDITOR, TRNN: Welcome to The Real News Network. I'm Paul Jay.
President Obama released his budget, and the most controversial piece of it is he wants to make some cuts to Social Security. Now here's a little bit of what he said: "Most economists agree that the chained CPI provides a more accurate measure of the average change in the cost of living." This chained CPI is at the heart of the controversy, 'cause critics are saying this is in fact a cut to Social Security benefits in the future.