'If there’s any field in which the Trump administration excels, it’s in coming up with more ways to disadvantage the already disadvantaged in American society,' writes columnist hiltzikm.
Not only are eligibility limits at risk for food stamps, Medicaid and other programs linked to the federal poverty level, the change also would reduce the premium subsidies provided by the Affordable Care Act, “and thereby increase the out-of-pocket premium charges faced by millions of people who purchase health insurance through the ACA marketplaces,”The administration has tried to conceal its intentions, in its usual passive-aggressive manner.
If the chained CPI were instituted in 2001 at the same level as the CPI , by now it would read almost 6 percentage points lower. Indeed, in hinting at a shift toward the chained CPI, Trump is taking a page from conservatives who have been trying for years to cut Social Security benefits, using the same method.
The ostensible advantage of the chained CPI over its traditional cousin is that it takes into account so-called substitution effects. Those are what happen when a price rise in a given product or commodity prompts consumers to make an alternative purchase. Since they’re no longer making choices from the CPI’s standard market basket, the argument goes, the CPI’s inflation tracking is thrown awry.
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