by Doug Carey
As we get closer to the “fiscal cliff” more politicians have been discussing how to reduce the coming crushing burden of entitlements. Of course, most of those in Congress do not want to be the ones who actually cut anything for fear of losing votes. But one way they can reduce social security payments without calling it a cut, is to change how social security payments are indexed to inflation.
Currently social security payments increase with the rate of the Cost Of Living Adjustment (COLA) index.