Cuts to Social Security Will Hurt Seniors, Veterans, People with Disabilities and Children; Shackle Recovering Economy
While some in Washington may have given up on a so-called “grand bargain,” many others including the White House, have left benefit cuts to millions of seniors, veterans and people with disabilities on the budget bargaining table. Contrary to claims by Chained CPI proponents, this change to the annual COLA calculation is not a “technical tweak” but a benefit cut for the oldest and most vulnerable Americans who would be least able to afford it. Additionally, recent research by the National Committee to Preserve Social Security and Medicare Foundation, in consultation with economist Dean Baker, shows that adoption of the Chained CPI could cut $31 billion in economic output and more than 200,000 jobs nationwide.
Activists from the National Committee to Preserve Social Security and Medicare, AARP, NOW, Paralyzed Veterans of America, Generations United, NARFE, Social Security Works and other advocacy groups converged on the White House to tell President Obama “No” to the chained CPI. Protestors with signs illustrating the negative economic impact in each of the nation’s 50 states plus Washington, D.C. rallied along Pennsylvania Avenue and were joined by Rep. Keith Ellison (MN-5) and Rep. Mark Pocan (WI-2).
“The coalition here today is diverse, strong and unified in our opposition to Social Security benefit cuts like those that would come with the Chained CPI. Groups here today represent not just seniors but also young people, veterans, civilians, people with disabilities and middle class families. We’re all here together to say the negative impact of the Chained CPI should not be ignored or trivialized any longer. The White House and others have said this benefit cut is nothing more than a "technical tweak,"...but the truth is it would be a benefit cut imposed on the oldest and most vulnerable Americans who would be least able to afford it.” Max Richtman, NCPSSM President/CEO
Here's a video of activists rallying at the White House.