Obama’s caving on chained CPI and allowing reductions to Medicare so he can achieve his long-desired grand bargain is a terrible idea, not only on the merits but on the politics. It isn’t going to convince Republican fireeaters to bargain in good faith because their ultimate goal is to destroy his presidency, not run the country. It also opens Obama up to attacks from Republicans that he is hurting seniors. Greg Walden, chair of the House GOP reelection committee, is already doing just that, attacks that may well hurt Democratic candidates in 2014. Those attacks might be disingenuous from people want to do away with Social Security entirely (or privatize it, which is pretty much the same thing), but truth is not the name of the game here.
Bad policy, bad politics.