CHART OF THE DAY: The Stealth Social Security Cut In Debt Talks

Brian Beutler | July 6, 2011, 9:55AM

For months, the high-stakes stand-off over raising the debt ceiling and cutting the deficit has proceeded from two basic premises -- that Republicans would take their toys and go home the minute Democrats proposed significant new tax revenues, and that Social Security's long-term shortfall would not be on the table in this round of negotiating.

Two weeks ago, that first assumption proved true: Democrats proposed a few hundred billion in new tax revenues (a small fraction of the trillions of dollars in spending cuts Republicans are demanding) so GOP principals threw up their hands and abandoned the discussions. But the second assumption isn't built on bedrock. And in recent weeks, congressional aides, strategists, and advocates have been floating, or warning of, a stealth change to the Social Security benefit structure that has quietly been placed on the negotiating table.