We may have democracy, or we may have wealth concentrated in the hands of a few, but we can't have both. - Justice Louis Brandeis
Trickle-down economics is the first cousin of austerity economics. Austerity is nuts when so many millions are out of work. And as we’ve learned before, trickle-down is a fraud. Nothing ever trickles down. - Robert Reich, "A Story for May Day"
A New York Times editorial discusses these (at greater length than most editorials) and concludes that President Obama, having not gotten his tax concessions from Republicans as they did not get their lowered cost-of-living adjustments (COLAs), still seems "determined to include the COLA cut" in forthcoming negotiations... a policy evidently harmful to seniors currently receiving Social Security benefits and liable to be even more harmful as years go by.
If someone can give me a good answer why any Democrat should advocate striking such an obvious blow against seniors... the population cohort overwhelmingly most supportive of the Democratic Party (and quite possibly directly responsible for Mr. Obama's re-election)... I'd really like to hear it. Otherwise, this "chained CPI" approach is nothing but another failure of Democrats to act like Democrats... and thus another sharp stick in the eyes of senior citizens who have supported that party.