Join Damon Silvers, director of policy and special counsel for the AFL-CIO, June 5 from 3–4 p.m. EDT for a live Twitter chat that will explode the economic myths peddled by the “austerians” and offer a range of alternatives and an economic vision that will work for working families.
As you might imagine that’s very difficult to live on. I cannot afford to lose any of my benefits due to the chained CPI cut in benefits. This is especially important to me as a woman. Women represent 57% of all Social Security beneficiaries. Chained CPI would hit female beneficiaries especially hard because we tend to live longer.
Sen. Elizabeth Warren (D-Mass.) sent the following message about Social Security to her supporters:
My brother David has always had the special spark in our family.
Like our two older brothers, David served in the military. When he got out, he started a small business—and when that one didn't work out, he started another one. He couldn't imagine an America where he wasn't living by his wits every single day.
While more than 2 million people signed a petition that was delivered to President Obama today urging him not to cut Social Security, Medicare or Medicaid and to abandon a "chained" CPI formula, hundreds more have left photo messages for the president.
The 'Chained' CPI is a benefit cut to a program that does not contribute to the deficit. Do not barter it away in the name of deficit reduction. Stand strongly against all cuts to Social Security, Medicare and Medicaid.
Yesterday the AFL-CIO learned President Obama's budget will cut Social Security and Medicare benefits for working families. The so-called "chained" CPI will cut Social Security benefits and middle-income seniors (people who made $47,000 a year and more) will be asked to pay higher Medicare premiums.
In his most recent column, Economic Policy Institute President Lawrence Mishel demolishes arguments in favor of "chained" CPI, which is often offered in grand bargain negotiations, saying it is nothing more than a way to explain away cuts to the program.
The "chained" CPI cost-of-living formula—which would result in a painful cut in benefits for Social Security recipients—was touted as good policy by White House National Economic Council Director Gene Sperling in an "Ask Me Anything" Reddit chat yesterday.