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Is This Social Security Threat Gone for Good?

Social Security has been in financial trouble for years, and many proposals to shore up its finances have been controversial. In President Obama's new budget, one previously suggested change to Social Security was taken out, but is the controversial provision gone for good?

In the following video, Dan Caplinger, The Motley Fool's director of investment planning, looks at the proposal to change cost-of-living adjustments by using what's known as the chained CPI. Dan notes that economists argued in favor of the move, saying that it better reflects the actual prices people pay. But opponents saw it as a veiled threat to Social Security benefits, and they believe that the Obama budget now properly protects Social Security recipients from that threat. Dan notes that those who supported the chained-CPI COLA now say that the failure to move forward will only cause bigger problems in future. Dan concludes that you can count on this issue coming up again in the future.

How to get more from Social Security
Even with the threat of smaller cost-of-living adjustments gone for now, you still have to be smart in order to make the most of Social Security. In our brand-new free report, "Make Social Security Work Harder for You," our retirement experts give their insight on making the key decisions that will help ensure a more comfortable retirement for you and your family. Click here to get your copy today.


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Dan Caplinger
TMFGalagan

Dan Caplinger has been a contract writer for the Motley Fool since 2006. As the Fool's Director of Investment Planning, Dan oversees much of the personal-finance and investment-planning content published daily on Fool.com. With a background as an estate-planning attorney and independent financial consultant, Dan's articles are based on more than 20 years of experience from all angles of the financial world.

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