The Chained CPI

Changing the way Social Security cost of living adjustments are calculated will reduce benefits but it will not help lower the debt.  Social Security has never added one cent to the debt.

But if you switch all government calculations to the chained CPI you will also lower VA benefits.  That will save the government money but screw over veterans.  And tax brackets will adjust more slowly so a small raise may push you into a higher tax bracket even if you only make $20k a year.

Talking about Social Security and COLAs and the debt is either just a disingenuous – or stupid – way to cut Social Security benefits without helping the debt at all, or it’s a smokescreen to cover cutting veterans’ benefits and increasing taxes on the poor and middle class.

Or it could be all of the above.

It’s only a burden if you make it one

All right, let’s just set aside the fact that we can eliminate the debt with some modest increases in taxes.

One of the favorite plaints is that we simply cannot leave this horrible debt for our grandchildren to pay.

Who said our grandchildren have to pay it?

No one today is willing to pay it, and we still have a functioning country. We’ve had debt since the founding of this nation. So who said it is ever going to be paid off? Sure, we pay our bills as they come due, and then we incur more debt. Countries work that way.

This is a bogus complaint. The debt is there, it would be nice if it wasn’t, but it need not be a crushing burden for any generation. If we wanted it to the government could borrow a lot of money really cheap right now and reduce interest payments. No one ever talks alternatives. It’s always just a flat – OHMYGODTHEDEBTISBAD – usually from people who didn’t care about the debt when their guy was in the White House. It’s just an excuse to do things that don’t really help the debt at all.

Yes, our nation has a debt. We can pay it off – or not.

That’s really the truth of the matter.