There are now multiple press reports that President Obama will agree to a fiscal deal that enacts a so-called ai???Chained CPIai??? to calculate Social Security and veteransai??i?? benefits. Under this plan, beneficiaries would get cuts in their cost of living adjustments.
Rep. Peter DeFazio (D-OR) just released the following statement denouncing this policy, saying he “staunchly” opposes it:
DEFAZIO: Throughout my time in Congress I have always fought to protect Social Security and Medicare from unfair ideologically based cuts. The fact the Social Security, which did not contribute to our fiscal troubles, is being discussed as part of the deficit negotiations is outrageous. I staunchly oppose the latest proposal to cut the Social Security cost of living adjustments (COLAs) by using the ai???chained CPI.ai???Ai?? The current COLA formula already doesnai??i??t reflect the rising costs of medications, food, and other good that seniors buy. The chained CPI would only make the problem worse.Ai?? Using the chained CPI to calculate COLAs would cause the average senior to lose over $16,000 over 25 year retirement. Nearly 70 percent of Social Security beneficiaries depend on Social Security for at least half of their income. Social Security is the sole source of income for 15 percent of recipients . Asking these retirees on a fixed income to bear the brunt of reducing a deficit that they did not create is inappropriate and unacceptable.ai???
We set up an ActBlue page to highlight and reward bold progressive members of Congress who are speaking out publicly today.Ai??Check them out and donate $3 to them here.
Click hereAi??to pledge to hold any Democrat who agrees to a deal that cuts Social Security, Medicare, or Medicaid benefits accountable.
Click hereAi??to call your Member of Congress and demand that they oppose this bad deal.
I appreciate Peter Defazio because I think he has moral courage and uses it. We need more people in congress who really care about the citizens they represent. It means the difference between life and death for some us when it comes to maintaining our Social Security and Medicare–and I may be one of them since I am a leukemia patient.
I also do not want to see those who defend the United States penalized monetarily, either. It’s simply wrong, and this administration seems to have no shame. Please protect these rights.