By Lisa Desjardins, CNN
Follow on Twitter: @LisaDCNN
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(CNN) – As Congress and the White House fight over every billion in revenue and spending cuts, there is some $200 billion in savings on the table that many economists insist is a no-brainer.
The idea is to simply change how the US calculates inflation from the current Consumer Price Index measures to one that is arguably more accurate, the chained CPI.
Over a decade, the change could save the government billions in spending tied to inflation, notably cost of living adjustments for federal retirees and Social Security recipients.
[3:28] "That’s the funny thing about this policy. If we enacted it, nobody would notice."
- Marc Goldwein, senior policy director, Committee for a Responsible Federal Budget
Advocates for seniors and retirees passionately disagree.
[3:42] "Perhaps you would not feel it so much over the next year or two but over the long term is when it’s really going to hurt."
- Elaine Hughes, retired Dept. of Energy employee and National Secretary for the National Active and Retired Federal Employees Association.