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Tell Washington Not to Cut Social Security for Current Recipients
Posted By Reshma Mehta On December 19, 2012 @ 6:27 pm In Money & Savings,Politics | Comments Disabled
President Barack Obama and House Speaker John Boehner are deep into negotiations on a fiscal cliff deal — and unfortunately, the hard-earned Social Security benefits of current retirees, veterans and workers with disabilities are on the table.
The chained CPI proposal is positioned as a ‘slight tweak’ to the Social Security cost-of-living-adjustment (COLA).
The problem is that for people who have paid into Social Security for decades, many of whom are barely scraping by with an average monthly income of under $1,300, the change isn’t so slight. It adds up to $112 billion over the next 10 years— money directly out of your pocket if you currently rely on Social Security as a source of income.
The new COLA calculation  aims to account for ways consumers change their buying habits when prices change, such as choosing chicken instead of beef at the grocery store. This theory breaks down for seniors. That’s because a high percentage of their income goes to prescription drugs, utilities and health care costs that keep going up. And there are no lower-cost substitutes.
Join us in taking action now! Tell Washington no cuts to Social Security  as part of a last-minute budget deal.
You’ve paid into Social Security and Medicare for years, and you deserve an open, thoughtful discussion about proposals  to protect these programs for current retirees and strengthen  them for our kids and grandkids.
Our current retirees, and our veterans and people with disabilities, deserve better than shortsighted changes crammed into an eleventh-hour budget deal before people have a chance to read the fine print.
Article printed from AARP: http://blog.aarp.org
URL to article: http://blog.aarp.org/2012/12/19/tell-washington-not-to-cut-social-security-for-current-recipients/
URLs in this post:
 Image: http://youtu.be/HcQlCgZ2fPg
 The new COLA calculation: http://www.youtube.com/watch?feature=player_embedded&v=HcQlCgZ2fPg
 Tell Washington no cuts to Social Security: https://action.aarp.org/site/Advocacy?cmd=display&page=UserAction&id=2494
 proposals: http://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html
 strengthen: http://www.aarp.org/work/social-security/info-06-2012/strengthen-social-security-youve-earned-a-say.html?intcmp=ADV-YEAS-SSST-BTN-TOP
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