Thursday, December 20, 2012

'Chained CPI' is a cut to Social Security benefits. 'Chained CPI' is a cut to Social Security benefits. 'Chained...

...CPI' is a cut to Social Security benefits.

There's a proposal on the table to use the 'chained CPI' to calculate Social Security benefits. It's a cut. And at least one House Democrat -- Minority Leader Nancy Pelosi -- isn't horrified by the idea.

David Dayen at firedoglake reports that Pelosi said she thought it would strengthen Social Security.

Let's be clear: The Teamsters strongly oppose the chained CPI and any other cut to Social Security, Medicare or Medicaid.

According to Dayen:
Chained CPI is a benefit cut. If it were a technical adjustment that had the effect of raising net Social Security benefits, nobody would support it. In fact, an accurate technical adjustment, which accounted for the cost of living of actual seniors who spend far more a percentage of their budgets on medical treatment, WOULD raise net Social Security benefits, because their cost of living is simply higher than the average person by virtue of being sicker in old age.
Write, call, email, send a candygram to your representative in Congress and tell them to oppose the chained CPI.