Update: NPR ran a good explanation of the proposed switch to a so-called “chained CPI” measure of inflation. Changing the way the government calculates inflation would in turn reduce Social Security cost of living adjustments. The plan would cut the benefit for an average earner retiring in 2011 by as much as $6,000 over 15 years. Please send an Act Now letter today.
One of the pillars of the social safety net, Social Security has now been targeted by Democrats as well as Republicans. The PSC strongly supports holding Social Security harmless from cuts and adamantly opposes efforts to impose austerity on working people.
There’s a plan on Capitol Hill that would slash Social Security benefits as part of a deficit reduction package. By changing the way the government calculates inflation and Social Security cost of living adjustments, the plan would cut the benefit for an average earner retiring in 2011 by as much as $6,000 over 15 years.
Read about what’s wrong with the proposal, then click here to tell your senators, “Don’t cut Social Security.”