Assign the second variable for the $.each function()
as well, makes it lot easier as it'll provide you the data (so you won't have to work with the indicies).
$.each(json, function(arrayID,group) {
console.log('<a href="'+group.GROUP_ID+'">');
$.each(group.EVENTS, function(eventID,eventData) {
console.log('<p>'+eventData.SHORT_DESC+'</p>');
});
});
Should print out everything you were trying in your question.
http://jsfiddle.net/niklasvh/hZsQS/
edit renamed the variables to make it bit easier to understand what is what.