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This proposal would take a disproportionate toll on women, who typically live longer than men, are more likely to rely on income from Social Security, and more likely to be poor.
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That's why we need to be vigilant and well informed about attempts to cut our hard earned Social Security. Right now a plan is circulating in Washington that would reduce our benefits substantially.
First of all, the current CPI does not even recognize that seniors spend more on health care, which grows faster than overall inflation. And second, the chained CPI assumes that when the cost of something you normally buy rises, you can simply switch to a lower cost substitute. If only life for most seniors were that easy. For most of us, it is not simply a matter of comparative shopping at the supermarket. We already choose lower cost options, and we also spend much of our money on basic goods such as health care and utilities that don't have lower cost substitutes.
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It goes by the innocent sounding name of "chained CPI" and it is described by proponents as simply a technical adjustment to better calculate the cost of living.
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Supporters of the chained CPI portray it as a more accurate reading of the cost of living. That assessment reflects a profound misunderstanding of the real life choices most seniors confront to make ends meet.
It wasn't so long ago just last year in fact that we heard and read so many politicians promising never to cut Social Security for today's seniors. The chained CPI shreds that promise, cutting benefits that current seniors have earned through a lifetime of hard work.
Sixty seven thousand Wyoming residents age 65 and over receive Social Security. For many of us, it is an economic lifeline. While the average annual benefit of $14,000 is less than many people think, the fact is Social Security keeps more than 56 percentof Wyoming seniors who receive it out of poverty.
In fact, a chained CPI represents a significant benefit cut. During the course of a lifetime, it would cost the average senior thousands of dollars. The cut would get deeper each year as we grow older.
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If your comment was not approved, perhaps.
Social Security is a self financed program that provides earned benefits. It didn't cause the deficit and it shouldn't be cut to fix Washington's budget problem. Next time you hear an elected official in Washington talk about the great value of Social Security or how the middle class is the backbone of America, ask what that official's view is on chained CPI. Passionate views, pointed criticism and critical thinking are welcome. Name calling, crude language and personal abuse are not welcome. Nike Air Max 95 Pink Rose
Social Security has become even more important for so many of us at a time when seniors are living longer and trying to cope with rising costs for health care, drugs and utilities on the one hand and lower home equity and microscopic interest rates on our savings on the other.
A 92 year old woman or man receiving Social Security would lose a full month's worth of benefits. Is there anyone who thinks the typical 92 year old has that kind of money to spare? Is this really the kind of priority we're proud to set for our country?
Social Security is also critically important for younger people who receive survivors or disability benefits from this program.
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