Don t let Washington cut your Social Security benefits
Some in Washington are pushing a budget proposal that, by cutting , would unfairly hurt retirees. Called the “,” the proposal would change the yearly cost-of-living adjustment , reducing benefits by billion over the next 10 years. The benefit cut would start now and grow over time, making it increasingly hard for seniors to get their hard-earned benefits. Washington should address the nation’s budget challenges in responsible ways, not by cutting for today’s seniors and future generations. Here are the top five reasons why the chained CPI would hurt seniors.
Call to Action
Call 800-323-2230 and tell Washington to reject any budget proposal that cuts hard-earned Social Security benefits. 1. The chained CPI is a benefit cut. The chained CPI is a significant benefit cut, not a “technical change,” as some in Washington would like you to believe. 2. Cuts would get deeper every year. The chained CPI benefit cut would start now and get bigger with every passing year, costing seniors, veterans and our nation’s most vulnerable thousands of dollars over their lifetimes. 3. The chained CPI would cut benefits for today’s seniors. Most politicians promised during the 2012 campaign not to cut Social Security for current seniors. The chained CPI would break that promise, cutting benefits that today’s seniors have earned through a lifetime of hard work. 4. The chained CPI is less accurate for seniors. The chained CPI varies from the current COLA formula by assuming that when the cost of something you normally buy goes up, you will substitute a lower-cost item. This theory falls short because many seniors and veterans spend much of their money on basic goods such as prescription drugs, utilities and heath care — which don’t have lower-cost substitutes. 5. Social Security needs its own discussion. Americans deserve a separate, national conversation about how to protect Social Security for today’s seniors.
Also of Interest
Savings, resources and news coverage See the for deals, savings tips, trivia and more
video extra
What the Heck Is Chained CPI? Learn about the budget proposal that could cut the value of your Social Security benefits. Cancel You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits. Your email address is now confirmed. You'll start receiving the latest news, benefits, events, and programs related to AARP's mission to empower people to choose how they live as they age. You can also by updating your account at anytime. You will be asked to register or log in. Cancel Offer Details Disclosures
Close In the next 24 hours, you will receive an email to confirm your subscription to receive emails related to AARP volunteering. Once you confirm that subscription, you will regularly receive communications related to AARP volunteering. In the meantime, please feel free to search for ways to make a difference in your community at Javascript must be enabled to use this site. Please enable Javascript in your browser and try again.