chained CPI

Lew Optimistic Budget Deal with Congress Can Be Reached

Treasury chief Jacob Lew, hopeful a budget deal can be reached, tells Congress to consider concessions already made in President Obama's $3.8 trillion spending plan.

Obama Unveils $3.8 Trillion Spending Plan

Obama sends Congress a $3.8 trillion spending blueprint that seeks to tame runaway deficits by raising taxes further on the wealthy and trimming Social Security.

Obama's Budget Said to Seek Tax Increases, Entitlement Cuts

Obama administration officials suggest that the president's 2014 budget proposal, due Wednesday, will feature concrete tax proposals and propose cuts to entitlement spending.

Here's How Washington Is Likely to Trim Our Social Security Benefits

When Congress and President Obama make a budget deal to avoid the fiscal cliff, they're likely to use something called "chained CPI" to tweak how Social Security calculates cost of living adjustments. Here's a plain English explanation of what that means, and how it will effect your retirement.