In exchange for basically no real concessions from Republicans, President Obama has put forward a proposal to cut Social Security benefits by using a different cost of living calculation. This proposal to switch Social Security to the chained CPI is deeply unpopular with regular Americans, according to a new Washington Post poll.
Washington Post (12/13-16)
In order to strike a budget deal that avoids the so-called “fiscal cliff”, would you accept changing the way Social Security benefits are calculated so that benefits increase at a slower rate than they do now or is this something you would find unacceptable? Do you feel that way strongly or somewhat?
Using Chained CPI to cut Social Security benefits is deeply unpopular across the board. It is opposed by a majority of all age groups, ideologies, and party identifications. As a group Democrats are the most strongly opposed to the idea with only 26 percent thinking it is acceptable compared to 68 percent who call it unacceptable.
President Obama agreeing to this change is a serious betrayal of the coalition which just re-elected him given that House Republicans are appear about to relent on higher taxes for the wealthy even without any concessions from Democrats.