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The Issue: Year of action? Doubtful.
U.S. President Barack Obama may have declared 2014 a year of action in his State of the Union address but lawmakers last week moved quickly after returning from their recess to knock down expectations. Even Obama seems to be rethinking his ambitions, deciding this will not be the year Social Security increases are scaled back by linking them to the chained-CPI, a form of the Consumer Price Index that considers substitutions for products that get too pricey instead of just cheaper versions of the same product — think oranges instead of apples (chained-CPI) rather than Gala apples instead of Honeycrisps (regular CPI)…Read More
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