Cutting tool having insert pocket with cantilevered member

A combination cutting tool and cutting insert, comprising:

• a cutting tool having a central, longitudinal axis comprising:
• a tool body including an insert pocket with a bottom wall, a rear wall and at least one side wall;
• a cantilevered member extending from one of the walls of the insert pocket, the cantilevered member including a top support wall, a bottom support wall opposite the top support wall, and a rear support wall;
• an adjustment screw for exerting a force against the cantilevered member;
• and
• a cutting insert mounted on the cantilevered member, comprising:
• a top surface, a bottom surface, and a plurality of side surfaces, each side surface including a first pair of chip grooves and a second pair of chip grooves extending perpendicular to the first pair of chip grooves;
• a plurality of primary wiper cutting edges formed at an intersection between each of the first pair of chip grooves and the top and bottom surfaces,
• wherein the adjustment screw exerts a force against the cantilevered member to selectively adjust a position of the primary wiper cutting edges of the cutting insert with respect to the central, longitudinal axis of the cutting tool, and
• wherein said adjustment screw is threaded into a threaded bore extending into the rear wall of the pocket and defining a positive axial angle with respect to an x-axis of the cutting tool and a positive radial angle with respect to a y-axis of the cutting tool.