If Congress goes with a “chained CPI,” the cost-of-living adjustment on Social Security would mean less money for seniors who receive Social Security benefits and veterans\u2019 benefits. The chained CPI would mean a different Consumer Price Index would be used, one which grows slowly. Though the chained CPI would save the system an estimated $130 billion, it means a lot less money for retirees in Michigan and elsewhere.<\/p>\n
The American Association of Retired Persons (AARP) has comer out in strong opposition to a chained CPI. An estimated 70 percent of voters above the age of 50 have stated that they are against the chained CPI \u2013 and that includes a wide swatch of Republicans, too (60 percent). Eighty-four percent of votes age 50 and up have stated that Social Security should not be part of a budget-deficit plan, as it is a self-financed system. If Congress goes with a “chained CPI,” the cost-of-living adjustment on Social Security would mean less money for seniors who receive Social Security benefits and veterans\u2019 benefits. The chained CPI would mean a different Consumer Price Index would be used,…<\/span><\/p>\n
\nSocial Security cuts make people nervous, for good reason; (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"