Tell the House Ways and Means Committee NO CHAINED CPI!

[Divernan]

3. 82 House Democrats REJECT Obama's chained CPI Formula!

Dems reject Obama's chained CPI formula for Social Security
By Pete Kasperowicz - 04/22/13 01:03 PM ET

Dozens of House Democrats on Monday introduced a resolution that rejected President Obama's proposal for calculating growth in Social Security benefits.

The resolution, H.Con.Res. 34, was sponsored by Rep. David Cicilline (D-R.I.), and co-sponsored by 81 other Democrats. It says it is the sense of Congress that "the Chained Consumer Price Index should not be used to calculate cost of living adjustments for Social Security benefits."

Obama used his 2014 budget plan to call for imposing a so-called chained CPI formula. That formula would reduce Social Security cost of living adjustments by taking into account alternative purchases people can make in order to avoid goods and services whose costs are rising quickly.

Since Obama's budget was released, Democrats have criticized it as a way to shrink Social Security payments to seniors and have repeatedly rejected it in speeches on the House floor.

Read more: http://thehill.com/blogs/floor-action/house/295297-dems-reject-obamas-chained-cpi-formula-for-social-security#ixzz2atKgqbcx
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