The proposal to change the cost-of-living calculation for Social Security is not “modest,” as Ruth Marcus asserted [“The issue he dared not mention,” Washington Forum, Jan. 31]. Because the effect of the change is cumulative, it would drastically reduce a retiree’s earned benefits over time. Moreover, the proposed chained consumer price index is based on a specious premise: If you can no longer afford something and don’t buy it, your cost of living has not gone up.

Ms. Marcus is concerned that without so-called entitlement reform, interest rates would go up over time. I suspect the investor class would survive if bank accounts and government obligations were to again pay a reasonable rate of return. We would be better served by fiscal policies that were not focused on the needs of the wealthy.

Stuart Endick, Burke