So, those of you who have accused me of being nothing but a cheerleader for the President, hear this: I hate the proposed shift to chained CPI for federal inflation calculation. It’s probably more accurate, but that’s no consolation for people who get smaller increases going forward. That said, I think it’s important to understand that chained CPI wasn’t just thrown on the table by itself. The President’s proposed budget is a package. It includes significant tax increases and loophole closures targeting wealthy individuals and corporations, and its clear that his intent is to get beyond the endless nattering about debt and deficits so we can start rebuilding the country. I don’t know that I agree with him about that, but I’ve always credited him with thinking big, and this is the kind of thing you get when someone thinks big. The kind of person willing to take on third-rail [...]
