Former Secretary of Labor Robert Reich gives a brief, straightforward explanation for why switching to chained CPI isn’t appropriate for Social Security cost-of-living adjustments:
(I’m not sure why some ninny thought the ticking kitchen timer sound effect was a good idea, but since the whole clip runs just over two minutes it’s endurable.)
A few previous posts on Social Security:
Should Social Security be expanded?
No, Social Security isn’t in trouble
Yet more about Social Security