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In a technical sense it is. Neither side will be talking about cuts to Social Security as part of the Fiscal Cliff negotiations. Congress may take a deeper look sometime next year, but not during these talks. But that's not all of the story.
House Republicans have proposed indexing Federal benefits and that includes Social Security. It would be indexed to a slower inflation rate known as the Chained Consumer Price Index. In effect, it would slow the growth of benefits which grow periodically tied to the cost of living adjustments.
The President has counted with a superlative CPI which would shield the neediest of the beneficiaries from the chained approach. Liberals don't like either one.
The typical 65-year-old would lose some benefits three years from now and it would come to, by the best guesses, 130-dollars a year.
So both sides are actually talking about how inflation is calculated so technically they Social Security isn't on the table during these talks.