117 House Democrats, count ’em, 117, have signed a letter urging President Obama to exclude chained CPI from his FY ’15 budget. Here’s an excerpt from the letter:
“Switching to a chained CPI would be devastating for seniors, veterans, federal retirees, disabled individuals and others. Under legislation enacted in 1983, Social Security benefits for seniors retiring in the coming years are already scheduled to be reduced. Today, the average worker earning $43,000 annually who retires at age 65 will find that Social Security replaces 41 percent of their previous earnings. Soon, this will decline to just 36 percent of previous earnings, as the full retirement age climbs from 66 to 67 over the 2017-2022 period.
Chained CPI would further reduce those earned benefits over time because it fails to take into account inflation for older Americans. While the Affordable Care Act has had a positive effect in reducing Medicare spending growth, increased medical costs continue to take a larger and larger share of Social Security earned benefits. As you know, many seniors already face tight personal budgets, challenges that the recession has only exacerbated. For many seniors living on a fixed income, any reduction in benefits would have a serious impact on their ability to afford basic necessities.”
Here’s an article that includes all of the House signees.
Uh, by now, you know where this is going. Once again, absent from this list is the truly-awful John Carney. You know, our Congressman.
Please retire, John. Or switch your allegiance to the R’s which, come to think of it, would be the same thing. You don’t act like a Democrat, you don’t support Democratic principles, and you do more damage than good because of that.
Oh, and take Robocarper with you. You really should be ashamed of yourself.