Why a new inflation gauge will hurt seniors

The chained CPI is really the “Let Them Eat Cake Index”.

Simply put, a hugely complex equation lets a “politically unbiased” administrator determine if a certain component (product or service) of the index can be performed equally well by another product.

So, for example, if the price of public transit doubles, but walking is determined to be equally effective, the Index does not move (actually it can do down). Or if beef prices go through the roof but pork plumments, the index won’t move. Unless somebody gets Kosher into the equation.

Sounds like a road to highway robbery, of pensions and Social Security!