Rep. John Conyers (D-MI)

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, ai???a person age 75 in the future will get a yearly benefit thatai??i??s $653 lower after ten years of chained CPI than that person would get under the current formula. An 85-year-old will have $1,139 less to live This represents a huge cut to benefits.

Progressive Rep. John Conyers (D-MI) objects to this move, and pointed out on Twitter that it represents a definite benefit cut and that we cannot ask our seniors to accept it:

As even right-wing former president Ronald Reagan pointed out, Social Security doesn’t add a penny to the deficit — which makes it even more inappropriate that Congress is considering cutting it in deficit negotiations.

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