According to the Wall Street Journal, the White House is "strongly considering" reductions in future Medicare, Medicaid and Social Security payments. The budget proposal, to be released April 10, could cut Social Security payments behind the smokescreen of the “Chained CPI.”
According to Social Security Works, a retiree who lived to age 85 would see a cumulative benefit cut of nearly $14,000 from the Chained CPI.
It is not a better way to do cost of living adjustments. It's not a technical fix because it doesn't represent the true costs facing seniors.
It's a benefit cut that will throw many seniors into poverty.
We owe our parents and grandparents better.