The White House has confirmed that President Obama won't include the "chained CPI" (a formula for reducing cost-of-living adjustments in Social Security benefits) in his 2015 budget. It's clear that it was a political calculus that prompted this step today -- but we have to be vigilant and prepared for a renewed battle over the chained CPI in the near future.
We have truly reached a tipping point. Recurrently Americans have joined together in a populist movement to advance the interests of "the people" against "the elite." Today, after many years of struggle, that new populist movement is rising to defend and expand Social Security. And the politicians had better lead or get out of the way.