Obama is proposing the so-called chained CPI, which would cut cost-of-living adjustments for grandparents and veterans. Here are three facts about chained CPI that everyone should know:
1. Chained CPI is a Social Security benefit cut. If chained CPI goes into effect, a worker at age 75 will receive $653 less in benefits a year. A worker age 85 will receive $1,139 less in benefits a year.
2. Chained CPI cuts Social Security benefits for current seniors. The chained CPI will cut the benefits of all current retirees, including disabled workers – even after politicians have promised repeatedly that any changes to Social Security would not affect current beneficiaries.
3. Chained CPI hurts veterans. Under the chained CPI, a disabled veteran who started receiving VA disability benefits at age 30 would have his or her benefits reduced by $1,425 at age 45, $2,341 at age 55, and $3,231 at age 65.
We at the Progressive Change Campaign Committee asked numerous Obama campaign grassroots leaders about their reaction to this devastating plan. Here's a sampling of their responses:
Richard McDermott, Neighborhood Canvass Captain, Boulder, COWhat you can do…
"I am a senior not yet collecting Social Security. I would completely withdraw my support. It would be a betrayal of his promises and my trust."
Veronica Kirk, Obama 2012 Volunteer, Farmington, MI
"If President Obama goes back on his word to endorse cuts to Social Security, I will no longer support him as our president. I will feel abandoned and betrayed! It will affect my activism on other issues as well."
1. Sign the petition to the White House, and join the mass outrage movement. We're working with great allies at CREDO, MoveOn, Democracy for America, Social Security Works and our progressive heroes in Congress on an ongoing campaign to stop these cuts.
Social Security is the core of the progressive and Democratic legacy. The President has no mandate to cut these benefits, and we'll do everything possible to stop him.