It’s the annual Cost of Living Adjustment to Social Security benefits to keep up with inflation. In order to win the votes necessary to raise the debt ceiling, Pres. Obama says everything is on the table — the sacred cows of both parties.
The proposed change in the method of calculating the COLA is part of the budget deal being negotiated right now. The lowered benefits resulting from the proposed Chained Consumer Price Index would be felt a lot more by women than by men. I’ve explained why in Social Security: The Math That Could Hurt Us.