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Chained CPI Threatens Recovering Economy
A startling new report details, state by state and Congressional District by District, the true economic impact of adopting a new formula called the “Chained CPI” to measure annual cost of living adjustments (COLA). While some in Washington portray this benefit cut as nothing more than a “technical tweak” the truth is it would be a benefit cut imposed on the oldest and most vulnerable Americans who would be least able to afford it. The report by the National Committee to Preserve Social Security and Medicare Foundation, in consultation with economist Dean Baker is entitled, “The Chained CPI: Shackling America’s Economic Recovery,” and provides a detailed look at what the adoption of a stingier cost of living adjustment really means for communities and states. Read more…
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