There are now multiple press reports that President Obama will agree to a fiscal deal that enacts a so-called a�?Chained CPIa�? to calculate Social Security and veteransa�� benefits. Under this plan, beneficiaries would get cuts in their cost of living adjustments.
Rep. David Cicilline (D-RI) stated firmly that he would vote against any deal that has these sort of benefit cuts:
a�?After a lifetime of hard work, our seniors deserve to know that Social Security will be there to allow them to enjoy their retirement years with economic security and peace of mind.A� By law, Social Security cannot contribute to the federal deficit. While we need to address its future solvency, cuts to Social Security benefits should not be a part of a�?fiscal cliffa�� negotiations.a�?
a�?I will vote against any agreement that imposes cuts to already modest Social Security benefits and does not ask millionaires and billionaires to pay their fair share.A� As we continue to approach the January 1stA�financial deadline, I urge our leaders to take Social Security off the table during negotiations and find a solution that works for the middle class.a�?
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