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Josh Barro

Don’t Cut Social Security, Expand It

(Corrects chart description in third paragraph.)

With everyone in Washington experiencing sea-bass-induced euphoria, we're talking again about a "grand bargain" to replace the sequestration and shrink the federal budget deficit. And that means we're talking about using the chained consumer-price index, a lower and more accurate inflation measure, to modestly raise taxes and cut Social Security benefits over time.