Chained CPI Threatens Recovering Economy

2013-09-26T17:37:00+00:00September 26th, 2013|News Archives 2013|

 

September 26, 2013

NEWS ADVISORY

A new report will be released on Wednesday, October 2nd, detailing, state by state and Congressional District by District, the true economic impact of adopting a proposed new formula called the “Chained CPI” to measure annual cost of living adjustments (COLA). While some in Washington portray this Social Security benefit cut as nothing more than a “technical tweak” the truth is starkly different.  In a report commissioned by the National Committee to Preserve Social Security and Medicare Foundation, “The Chained CPI: Shackling America’s Economic Recovery,” economist Dean Baker provides a detailed look at what the adoption of a stingier cost of living adjustment really means for communities and states. 

Call participants include:

·         Max Richtman, President and CEO, National Committee to Preserve Social Security and Medicare

·         Dean Baker, co-founder of the Center for Economic and Policy Research

·         Rep. Ted Deutch (D-FL)

·         New Jersey Assemblywoman Celeste M. Riley

           ·         Business Owner Abraham Kapusuz, Green Olive restaurant, Bridgeton, New Jersey 

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The mission of the National Committee Foundation is to protect, promote, and ensure the financial security, health, and well being of current and future generations of older Americans through research, analysis, and public education.  Foundation Board Chair, Dr. Carroll L. Estes, Ph.D.

 

Media Inquiries to:
Pamela Causey 202-216-8378/202-236-2123

Kim Wright 202-216-8414 www.ncpssm.org