At a meeting that lasted just less than 90 minutes, Obama was peppered by questions from Sens. Tom Harkin (D-Iowa) and Bernie Sanders (I-Vt.), among others, who challenged Obama on adopting “chained CPI” — a less generous formula for adjusting benefits under Social Security and other programs for inflation.
Obama has said he is open to chained CPI as part of a “grand bargain” that would include spending cuts as well as new revenue. And he didn’t back down from that support during a closed-door meeting with Senate Democrats, despite pushback from Harkin and Sanders.
See, the problem is, put simply, here’s what “chained CPI” would do:
Here's Senator Sanders on chained CPI:
"It would be criminal to cave on this issue."
Please watch, it's not long. Via Bernie Sanders YouTube channel:
Watch Senator Bernie Sanders (I-VT) and Ed Schultz discuss the disastrous effects the Chained CPI would have on seniors, working families and disables vets.
And my fellow Dems wonder why I say that the president has, indeed, made it clear that he is willing to "cave," as Sanders put it.
At the meeting, Obama pledged to more regularly update Senate Democrats on the administration's plans — an indication that the White House's charm offensive would become a bipartisan effort.
I don't find him so charming when it comes to chained CPI, sorry.