Posts Tagged fiscal cliff

Congress actually does their job and passes the fiscal cliff deal, but that doesn’t mean it’s a win

Late last night the House of Representatives passed the Senate’s final version of the deal to avert the so-called fiscal cliff. Incredibly, we’ve reached the point where getting House Republicans to actually do their damn job almost looks like a victory. After behaving like petulant, tea partying children to keep the legislation from passing just to avoid a small tax hike on the wealthiest folks in the US, they actually cast votes on a compromise – you know, their job as members of Congress.

Of course, House Republicans still managed to be total asses and stop a vote on Hurricane Sandy relief. Seriously.

While the fiscal cliff vote happened, that doesn’t mean it was a win for those of us struggling ...

Late last night the House of Representatives passed the Senate’s final version of the deal to avert the so-called fiscal cliff. Incredibly, we’ve reached the point where getting House Republicans to actually do their damn job almost ...

Chart of the Day: Poor elderly women to get screwed in fiscal cliff deal


After several offers and counteroffers, Congress and the President may be close to reaching a fiscal cliff deal. Part of that agreement involves cutting Social Security benefits by switching to calculating them based on chained CPI.

According to Brad DeLong, “‘Chained-CPI’ is code for ‘let’s really impoverish some women in their 90s!'”

Since women tend to live longer than men and tend to be poorer than men, they’ll be the hardest hit by this change. As Bryce Covert notes, Social Security is basically the only source of income for nearly 40 percent of women over 80, compared to 28 percent of men. By switching to chained-CPI, at age 80, a single elderly woman’s Social Security benefits would be cut by ...