Chained CPI is one of the dumbest things in the very dumb discussions about the phony debt and deficit crisis. Well, dumb doesn’t quite capture the point. It’s more like robbery disguised as economics. And the president is foolish to even consider it.

In its simplest explanation, chained CPI is a proposal to change the way the government measures the costs of goods, which translates into how much payments like Social Security might go up. The key thing to remember about chained CPI: it’s lower, and thus slower, than the rate of inflation.

The problem is that even the rate of inflation — in this instance, a more beneficial measurement — understates how hard it is to make ends meet. Chained CPI would make things even worse for seniors and other people who depend on a basic retirement and the safety net.

My friends at the Center for Policy and Economic Research make it clear this ain’t no good:

However, research and data effectively refute those arguments by showing that:

 1) Switching to the Chained CPI would result in cuts to already modest Social Security benefits.

2) It is likely that the Chained CPI is not an accurate measure of the inflation rate seen by seniors.

3) The Chained CPI would lead to income tax increases for working Americans.

Over in the Senate, Bernie Sanders (I-Vt.) said flatly that the president was “dead wrong” to consider chained CPI.

“The veterans community does not agree with the president; the senior community does not agree with the president; women’s communities don’t agree with the president. He’s way out of touch on this issue, and I hope he rethinks this,” Sanders said.

But, if the president keeps having dinner with Republicans in search for the foolish “grand bargain” that is unnecessary and almost criminal, chained CPI will be the mechanism to push more people into poverty.