Why Is Chained CPI Bad? Social Security Is Already Too Low For Seniors Who Spend Much Of Their Income On Health Care

Last year Republicans demanded the president offer a change to Social Security known as “Chained CPI” in exchange for a “grand bargain.” Since then, 104 Republicans voted for it.

And in an attempt to reignite hopes of a new, big deficit deal, President Obama included it in his budget.

Many Democrats, including Elizabeth Warren (D-MA), have attacked the proposal as chipping away at Social Security, a program that Democrats created and have been defending since the 1930s. The way it hurts seniors is difficult to explain (as you can see from the AARP graphic below).

This post from The Nation debunks the myths about “Chained CPI.” But for a simple explanation, watch President Clinton’s former Secretary of Labor Robert Reich break it dow in the video above, with the help of his happy cartoon figures.

800-ChainedCPI-infoG

social security

 

 

Imag: Donkey Hotey via Flickr.com

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

How A Stuttering President Confronts A Right-Wing Bully

Donald Trump mocks Joe Biden’s stutter,” the headlines blare, and I am confronted (again) with (more) proof that the presumptive Republican presidential nominee hates people like me.

Keep reading...Show less
Trump at Trump Tower

Former President Donald Trump at Trump Tower in Manhattan

NEW YORK, March 25 (Reuters) - Donald Trump faces a Monday deadline to post a bond to cover a $454 million civil fraud judgment or face the risk of New York state seizing some of his marquee properties.Trump, seeking to regain the presidency this year, must either pay the money out of his own pocket or post a bond while he appeals Justice Arthur Engoron's February 16 judgment against him for manipulating his net worth and his family real estate company's property values to dupe lenders and insurers.

Keep reading...Show less
{{ post.roar_specific_data.api_data.analytics }}