Obama: Keep Seniors' Promised Benefits Off the Negotiating Table
President Obama campaigned on protecting Medicare and Social Security as we know them. But as soon as crisis arose, Obama put changes to Social Security on the table that would drastically reduce benefits for seniors.
During the fiscal cliff debates, Obama offered to change the formula for calculating Social Security benefits. According to AARP, switching to the "chained consumer price index" standard would take an estimated $112 billion out of the pockets of seniors in the next 10 years alone.
Social Security is not the big driver of budget deficit. The program is self-financed with the hard-earned dollars each person contributes through their payroll taxes. But that hasn't prevented it from being a GOP target for budget cuts. Republicans looking to cut seniors' benefits isn't surprising, but Obama capitulating is.
With more "fiscal cliffs" in the coming months, we can't let Obama sell out seniors. Tell Obama: keep changes to Social Security benefits off the table.
Dear President Obama,
I was disappointed that in the last round of "fiscal cliff" talks you willingly put a change in the calculation of seniors' Social Security benefits on the table. Republicans are hungry for budgets cuts, but Social Security is not
the problem. It's up to you to remind them of that.
Social Security is a self-financed program through payroll taxes and it can remain some with some small tweaks that would not keep an estimated $112 billion out of seniors' hands. Americans have contributed to Social Security their whole working lives and planned their retirement around Social Security as it is today. They don't deserve to have their futures turned upside down so Republicans can score a political win that doesn't even fix the deficit.
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Please, don't put chained CPI or any other benefits-cut to Social Security on the table in future budget and fiscal negotiations.