Do not support Chained CPI

As we feared, President Obama released a budget that calls for cuts to Social Security for everyone, now and in the future. If enacted, this would mean seniors, veterans and people with disabilities would receive less of the benefits they earned over a lifetime of hard work.

The item in the budget that cuts Social Security benefits is called “Chained CPI.” It sets different standards on how they figure our cost-of-living adjustment. For each year of retirement, the reduction of our COLAs would compound. Your Social Security adjustments would be progressively lower, the longer you are retired.

To the people of Northeast Iowa, whether you are working, are tired, disabled, or a military veteran, it makes no difference. This budget, if passed by Congress, will affect you sooner or later. A study shows that 1 out of 6 older Americans live in poverty. This White House budget will surely increase that ratio.

I ask that every person who is able call your congressman or senator. Tell them: Do not support Chained CPI.

Lester Newton

Oelwein