President Obama has endorsed a plan to cut Social Security benefits through a so-called a�?chained CPI.a�? AFL-CIO President Richard Trumka released the following statement with regards to this possible cut:
Republicans are once again demanding benefit cuts to pay for tax cuts, and threatening to harm the economy unless they get their way.A� House Speaker John Boehnera��s recent a�?Plan Ba�? proposal would extend tax cuts for people earning between $250,000 and $1 million, at a cost of $400 billion. At the same time, Republicans are demanding to cut Social Security COLAs through the so-called a�?Chained CPI.a�? We call on Congress to reject House Speaker Boehnera��s proposal to extend tax cuts for people earning up to $1 million and support President Obamaa��s demand for at least $1.2 trillion in additional tax revenues. We further call on Congress to reject Republican hostage-taking and reject any cuts to Social Security, Medicaid, or Medicare benefits, regardless of who proposes them.
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