Excerpt from: The Kansas City Star (click for full article)
By supporting the so-called chained CPI, which alters the way the consumer price index is calculated, Obama would increase the cost of living for people who rely on Social Security and other government programs. It leaves those who have the least with even less.
For example, more than 8 million Americans with disabilities, including more than 1 million disabled children under age 18, depend on Social Security Supplemental Security Income. The average monthly SSI payment is $520, which is a meager $6,240 a year. For more than 57 percent of those receiving SSI, this is their only source of income.
Applying the chained CPI would result in an estimated $127 billion less in Social Security payments over the next decade, according to the Congressional Budget Office.
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