As soon as the fiscal cliff crisis was averted, a new crisis popped up in Washington – the battle over raising the debt ceiling. But one important item from these budget battles has been under-reported, and that is the proposed 3% cut to Social Security. Worse yet, Democrats have given the appearance of being willing to go along with the cut for the social safety net program. Mike Papantonio talks about the planned cut with economist and author Dean Baker.
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The 3 Percent Cut to Social Security: aka the Chained CPI
