CQ Roll Call Reports 'Democrats Decry Social Security Cuts From Obama Chained CPI Offer'
CQ Roll Call (subscription only) reported yesterday that chairman of the House Democratic Caucus Xavier Becerra (D-Calif.), along with a broad coalition of Democrats, pushed back against President Barack Obama's budget proposal to cut Social Security benefits by switching to the "chained" CPI method to calculate Cost-of-Living Adjustments (COLAs).
“It just doesn’t make sense to design a benefit cut that hits seniors, disabled workers, veterans and widows with the biggest benefit cuts at the time we know they need Social Security the most,” Becerra said at a Ways and Means subcommittee hearing.
The only way to protect Americans from that kind of targeted benefit cut is to not make it in the first place.
Well said, Rep. Becerra. You can read his entire opening statement here.
As we've said before, "chained" CPI is bad policy and bad politics.
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