President Obama's proposals of balanced cuts and tax increases includes a proposal to cut Social Security through the so-called 'chained CPI'. This would cut cost of living increases, hitting the oldest and most fragile retirees, as well as the disabled, the hardest. The idea of a chained CPI is based on the quite reasonable idea that for most people, if prices of one good go up they can easily substitute other, similar goods. This is generally true, but only for young, healthy, working people! It is NOT true for the elderly and the disabled, who are generally spending money on things for which there is no ready substitute: health care, and personal services for things they can no longer do themselves.
We ask that President Obama DROP the proposal for a chained CPI.