Paul Ryan Diminishes Obama’s Chained CPI Offer

On a conference call with reporters Wednesday afternoon, House Budget Committee chair Paul Ryan trivialized President Obama’s decision to include a provision called Chained CPI, which cuts the growth of Social Security benefits, as a gesture of good will to Republicans in his budget. 

“I don’t see it as entitlement reform, as much as clarifying a statistic,” Ryan said. 

Chained CPI is a measure of inflation that grows more slowly than the one Social Security cost of living increases are indext to.