November 6, 2013
NEWS RELEASE
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.
For example, in Florida just a decade from now, the state could lose $2.3 billion in economic output, 14,000 jobs and $1.6 billion in benefits during the year 2023 alone.
Activists from the National Committee to Preserve Social Security and Medicare, AARP, NOW, AFSCME, Military Officers of America Association, Generations United, NARFE, Social Security Works and other advocacy groups will participate in the White House event. Protestors with signs illustrating the negative economic impact in each of the nation’s 50 states plus Washington, D.C. will rally along Pennsylvania Avenue. Participating Members of Congress will be announced next week.
Chained CPI Protest
Where: The White House (North Side) on Pennsylvania Avenue
When: 1:00pm Thursday, November 14th
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The National Committee, a nonprofit, nonpartisan organization acts in the interests of its membership through advocacy, education, services, grassroots efforts and the leadership of the Board of Directors and professional staff. The work of the National Committee is directed toward developing better-informed citizens and voters.
Media Inquiries to:
Pamela Causey 202-216-8378/202-236-2123
Kim Wright 202-216-8414
www.ncpssm.org