If you only read the headlines, you might think that by not reaching an agreement to cut the nation's deficit, the congressional "supercommittee" was a colossal failure. But in fact, their failure was our success. We dodged a bullet that would have decreased economic security and increased personal misery.
One ploy some members of the supercommittee wanted to consider: a reduction in the cost-of-living adjustment for Social Security. Over time, that would have amounted to a $1,000 annual cut for an 86-year-old -- equivalent to one entire month's worth of benefits. ...