FROM NEW YORK TIMES:
At the end of last year, just shy of the 11th hour in the fiscal cliff negotiations, President Obama made an offer that included a Republican-backed idea to cut spending by lowering the cost-of-living adjustment for Social Security benefits. The move shocked Congressional Democrats and dismayed Mr. Obama’s liberal base.
The offer, however, was rejected by House Republicans who could not stomach the tax increases and other concessions that Mr. Obama demanded as part of the deal. The talks moved on, and when all was said and done, Republicans did not get the lower cost-of-living adjustments (known as COLAs) and Mr. Obama did not get the concessions he had sought.
But that is not the end of the story. As the next round of deficit reduction talks gets under way, the administration seems determined to include the COLA cut in any new package of spending reductions. Rather than using the issue as a bargaining ploy, the administration appears to have embraced it as a worthy end in itself.
— NYTimes January 13, 2013
Obama would like us to believe that he is only negotiating over Social Security under duress from the Republicans. It’s a lie. Obama intends to slash Social Security somehow. It will be called a “COLA adjustment” or it will be called something else. But no matter what it’s called it will be a reduction in benefits to seniors who have been promised an old age without fearing utility shutoffs, evictions, cutting pills in half or eating catfood. Obama lied! And he does it better than any of the others who have betrayed their people for a chance to sit at the Massa’s table