chained CPI

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.

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.