Obama's Social Security cuts = Bill Clinton's NAFTA

[Divernan]

54. DEMS reject obamas chained CPI formula for social security.

As The Hill reported on April 22, 2013, Obama DID propose chained CPI be used to calculate Social Security Benefits, and YES, Obama's formula WOULD REDUCE SOCIAL SECURITY COST OF LIVING ADJUSTMENTS. Now what will you argue? That a reduction is not a cut? It's like shooting fish in a barrel to "debate" you!

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


Dozens of House Democrats on Monday introduced a resolution that rejected President Obama's proposal for calculating growth in Social Security benefits.
(headline, April 22, 2013)

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. "We should not expect Rhode Island seniors to sacrifice their earned Social Security benefits to fix fiscal problems that they had no hand in creating,"

The resolution finds that Social Security payments average about $14,000 per year, and that more than 53 million people receive them. It also adds that the Congressional Budget Office estimates that chained CPI would cut Social Security benefits by 0.25 percent, and would reduce outlays by $112 billion over the first decade.

Read more: http://thehill.com/blogs/floor-action/house/295297-dems-reject-obamas-chained-cpi-formula-for-social-security#ixzz2bQdLjMax
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