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The President Needs To Reconsider His Plan To “Chain the CPI” In Social Security

It is good to hear that President Obama is negotiating with the US House about legislation to avoid these cuts the current proposals are very concerning.

The President and Speaker Boehner are discussing cuts to Social Security to work on a debt reduction deal.  Many organizations were quick to criticize the proposal and quick to criticize President Obama for suggesting changes to Social Security.

“TEAMSTERS STRONGLY OPPOSE CUTS TO SOCIAL SECURITY”

The Teamsters oppose the chained CPI for Social Security because it would most hurt the oldest and poorest retirees.

“Social Security does not contribute to the budget deficit and should remain off the table in these year-end budget negotiations,” Hoffa said. “Americans work all their lives to earn the Social Security benefits they were promised. It would be a terrible mistake to go back on that promise.”

Similarly the National Association of Current and Retired Federal Employees (NARFE) are also speaking out against the idea of a ‘chained CPI’ change for Social Security.

“Fed groups blast possible fiscal cliff switch to less generous COLA formula”

“The result would be lower COLAs for retirees, including federal and military retirees, over time. The change also would affect veterans’ benefits and disability insurance benefits.

NARFE criticized that assessment. “Both the current index and the chained CPI fail to accurately reflect the costs most seniors face.”

Even the large and very politically powerful AFGE who used all their power to help re-elect President Obama are calling for him to now change his position on ‘chained CPI’.

“The American Federation of Government Employees also called on lawmakers to reject a move to the chained CPI. “President Obama could not have picked a worse or more regressive item in the House Republican budget than the chained CPI,” AFGE President J. David Cox said in a statement.”

We need to make sure that President Obama change his position to make this change to Social Security.   We need to protect the earned benefits that we have all worked our entire lives for.  How many times do we have to say it?

“Social Security does not contribute to the budget deficit and should remain off the table in these year-end budget negotiations,” Hoffa said.

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About Matt Murray

Matt Murray is the creator and an author on the NH Labor News. He is a union member and advocate for labor and progressive politics. He also works with other unions and members to help spread our message. Follow him on Twitter @NHLabor_News
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