Democrats are going to be clobbered for proposing Chained CPI. We tried to warn you.
On the eve of President Obama’s budget presentation, a Western New York Republican joined the AARP in criticizing an expected decrease in the amount paid out in Social Security benefits by restructuring cost of living adjustments. Chris Collins says the move would hurt seniors and veterans.
“If you change the calculation of the consumer price index and how you calculate inflation, that’s going to continue to pinch our seniors who, come the end of the month, the stories I hear, are having trouble putting food on the table,” Collins said.
According to the AARP, changing the way the consumer price index is calculated would cost seniors and veteran pension recipients in Erie County $476 Million in future benefits. An AARP representative told YNN’s Ryan Whalen Tuesday, the “Chained CPI” expected in the President’s budget would hit Erie County harder than originally expected.
“It does not take into account the fixed costs that the seniors or all of us have, such as utilities, your healthcare costs, prescription drugs, gasoline. You can’t make a substitution for those. So that will make it even more difficult, particularly for those who are struggling to begin with,” AARP advocate Dave Hollen said.
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