To: President Donald Trump
Social Security and Chained CPI - Where's the Logic?
Social Security can't afford any further cuts. Chained CPI would negatively impact Americans' Social Security income. Because the existing cost of living adjustment (COLA) applied to Social Security income already understates actual increases in the “cost of living” and chained CPI would exacerbate the problem, we ask President Obama to have a public hearing with the Congressional Progressive Caucus, as they have requested, to discuss the logic of chained CPI.
Why is this important?
We all know someone who depends upon Social Security benefits whether it's because they've retired or because they are disabled. We also know that in most cases, the income they receive doesn't cover all of the costs of day to day living. We must allow increases in these benefits to be based upon the most reasonable index and chained CPI is not that.