Sen. Jeff Merkley (D-OR)

There are now multiple press reports that President Obama will agree to a fiscal deal that enacts a so-called ai???Chained CPIai??? to calculate Social Security and veteransai??i?? benefits.Ai??Under this plan, ai???a person age 75 in the future will get a yearly benefit thatai??i??s $653 lower after ten years of chained CPI than that person would get under the current formula. An 85-year-old will have $1,139 less to live on.ai??? This represents a huge cut to benefits.

On Twitter, Senator Jeff Merkley (D-OR) appeared to reject this approach:

Additionally, here’s a full statement his office released:

ai???We had an election, and the voters sent a message to Congress to focus on jobs and fairness — not cutting benefits for people who have worked all their lives and are now making ends meet on fixed incomes. The formula we use to adjust cost-of-living changes for seniors needs to reflect the real costs they face, not the budgetary fantasies of Washington.ai???

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