Skip to main content

View Diary: President Obama got exactly what he has wanted for 4 years tonight. Updated (253 comments)

Comment Preferences

  •  You should be nervous (4+ / 0-)

    The current CPI doesn't keep up with inflation for seniors who spend much more on health care and medicine.  The lowering prices of electronics, for example, which figures highly in determining the cost of living, doesn't factor in much for seniors.

    In case of Chained CPI, the problem will be made much, much worse.  The longer someone is on Social Security, the more they lose since their check doesn't rise with even the standard cost of living increase.  It's been calculated that a senior in their 80s could lose about a tenth of their annual income, about $1300 - 1500 per year.  

    It's a big deal when seniors are already having to decide between food and medicine.

    I'm about to get Social Security in 2 months.  My concerns aren't personal, but about future generations who will keep on paying into SS (except for people making over $110,000 per year) on every dollar they earn.  Taking the cap off contributions will make SS more current.

    Additionally, I don't see how SS even factored into these current discussions other than the continued hatred of the GOP for SS, Medicare, and Medicaid.  SS doesn't use any tax dollars, doesn't add to the deficit in any way, and isn't part of the national debt.  It's entirely self-funding.

    There already is class warfare in America. Unfortunately, the rich are winning.

    by Puddytat on Tue Jan 01, 2013 at 10:56:13 PM PST

    [ Parent ]

    •  SS is not part of the deal passed. (0+ / 0-)

      Secondly, the reason that SS is part of the conversation is that come 2032 there is a 25% cut in benefits if the SS fund is not made solvent beyond that year. A chained CPI extends this out past 2032. I am not sure how far it extends it out.  

      Right man, right job and right time

      by Ianb007 on Wed Jan 02, 2013 at 01:37:41 AM PST

      [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site