At Christmas I want to explain Obama's Chained CPI to my folks on Soc Security. Is this a good explanation?

[From See to Shining See]

Here’s how Chained CPI works: If the price of beef goes up, and some people start eating cheaper chicken instead, then INSTEAD of measuring actual inflation (as reflected by the rising cost of meats), the Chained CPI measures the behavior of moving from beef to cheaper chicken and LOWERS the cost-of-living adjustment.

And if more and more seniors can’t afford chicken and move to cheaper cat-food, then the “chained CPI” adjusts Social Security Insurance payments – and millions of disabled vets’ payments that are tied to Social Security – so that they can now afford cheaper brands of cat food.

Is that an accurate explanation on how Obama and the overjoyed GOP are planning to assess COLA for the elderly and disabled? They are sneaking this into the fiscal cliff talks and the media is complicit in their silence. Will you PLEASE discuss the perils of Chained CPI with your family this Christmas?