AFL-CIO president Richard Trumka

President Obama has endorsed a plan to cut Social Security benefits through a so-called “chained CPI.” 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.  House Speaker John Boehner’s recent “Plan B” 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 “Chained CPI.” We call on Congress to reject House Speaker Boehner’s proposal to extend tax cuts for people earning up to $1 million and support President Obama’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.