According to recent news reports, the chained CPI is part of a recently proposed deficit reduction plan. If the chained CPI (a new and lower Consumer Price Index) is adopted the cost-of-living adjustments (COLA) that Social Security recipients depend on would be calculated in a new way that cuts the value of benefits each year. And no matter how Washington insiders try to spin it, it means a CUT to Social Security benefits.
As the White House has pointed out, Social Security isn't the cause of our deficits. So switching the COLA to the chained CPI is just an underhanded move to balance the budget on the backs of the elderly, especially elderly women.
Your voice can make a difference! Tell your Members of Congress and President Obama that the chained CPI should NOT be part of deficit reduction talks.
Dear [Decision Maker],
As your constituent, I urge you not to switch the way that cost-of-living adjustments are calculated to the chained CPI. The chained CPI is not simply a technical fix; it's an underhanded change that will result in a stealth cut to Social Security benefits for millions of elderly Americans.
Sincerely,[Your Name] [Your Address] [City, State ZIP]