There are now multiple press reports that President Obama will agree to a fiscal deal that enacts a so-called “Chained CPI” to calculate Social Security and veterans’ 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:
“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. 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 ‘fiscal cliff’ negotiations.”
“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. As we continue to approach the January 1st 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.”
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