Why is Social Security on the Deficit Discussion 'Table'? SS Had Zero To Do With the Deficit.

[Dyedinthewoolliberal]

51. I've emailed my elected Congress people

and this reply from one of my Senators (Maria Cantwell) indicated cuts to SS will not pass.

Thank you for writing to me about the Social Security retirement benefits and the Chained Consumer Price Index. I appreciate hearing from you on this important issue.



The Social Security Administration provides retirement, disability, family benefits, and survivor benefits to millions of Americans and their dependents. In an effort to compensate for the effects of inflation, Social Security beneficiaries receive a cost-of-living-adjustment (COLA) in January of most years. Currently, the COLA is calculated using the Consumer Price Index for Wage Earners and Clerical Workers (CPI-W), which is updated monthly by the Bureau of Labor Statistics.



Since 2002 the Bureau of Labor Statistics has been publishing the Chained Consumer Price Index (Chained CPI) as a proposed alternative for the CPI-W. The Chained CPI uses a formula that accounts for what is known as the "substitution bias" – when higher prices cause people to change buying habits. Chained CPI would result in lower cost of living increases for Social Security recipients. I strongly oppose the proposed use of the Chained CPI. I understand that many Social Security recipients have expenses that differ from those of typical wage earners and clerical workers, and that the proposed Chained CPI would not reflect the actual cost-of-living changes these citizens face. For example, seniors spend more on health care expenses than the rest of the population and health care expenses have historically increased at a higher rate of inflation.



The importance of the Social Security program to retirees and disabled Americans cannot be overstated. Since its beginning in 1935, Social Security has prevented millions of seniors from falling into poverty, and it has served as a cornerstone of retirement security for American workers. We have a responsibility to ensure that Social Security delivers on its promises to current and future retirees. Changes to the Social Security program—how it is financed, how benefits are calculated, or decisions about retirement age—should be designed to preserve and strengthen the financial integrity of the program, and should not be a part of deficit reduction decisions.



As a member of the U.S. Senate Finance Committee I will continue to work with President Obama and with my colleagues to draft legislation that strikes the right balance in how we collect and spend federal tax dollars so we can leave more than debt to the next generation. I understand that this issue is especially important to you; be assured that I will keep your views in mind as we craft legislation.



Thank you again for contacting me to share your thoughts on this matter. You may also be interested in signing up for periodic updates for Washington State residents. If you are interested in subscribing to this update, please visit my website at http://cantwell.senate.gov. Please do not hesitate to contact me in the future if I can be of further assistance.