Alert
Close

Last chance – give now. Before 2014 ends, help struggling seniors. Donate

HIGHLIGHTS

Open
Grocery Coupons

Grocery Coupons

Members can print free savings coupons

Brain Health Center

Brain Health Center

Learn how to live smart and stay sharp

Amazon Kindle

Amazon Kindle

Members save on e-
readers and tablets

Caring for loved ones?

Caring for loved ones?

Find the resources you need

PRESS CONTACTS

If you are an AARP member and not with the press, call 1-888-OUR-AARP or email member@aarp.org

 

If you are a reporter with a media inquiry please contact the AARP Media Relations office: 202-434-2560 or media@aarp.org. Or Follow us on Twitter @aarpmedia.

AARP to Congress and the President: Don’t Cut Social Security

Association urges Congress not to include a cut via Chained CPI in budget deal

FOR IMMEDIATE RELEASE:

December 18, 2012

CONTACT:

Josh Rosenblum or Tiffany Lundquist

202-434-2560 or media@aarp.org

AARP to Congress and the President: Don’t Cut Social Security

Association urges Congress not to include a cut via Chained CPI in budget deal.


En español | Washington, DC – AARP Executive Vice President Nancy LeaMond today reiterated the Association’s opposition to including a cut to the benefits of current and future Social Security recipients as part of a year-end budget deal via a formula change known as Chained CPI. She offered the following statement:


“Adopting the chained consumer price index for Social Security benefits will take $112 billion out of the pockets of current Social Security beneficiaries in the next 10 years alone, and is neither fair nor warranted.


“Social Security is currently the principal source of income for nearly two-thirds of older American households, and roughly one third of those households depend on Social Security for nearly all of their income. Half of those 65 and older have annual incomes below $18,500.  Every dollar of the average Social Security retirement benefit of about $14,800 is absolutely critical to the typical beneficiary.  


“The Chained CPI is a stealth benefit reduction that will compound over time and cut thousands of dollars in retirement income for current beneficiaries.  A typical 80-year-old woman will lose the equivalent of 3 months worth of food annually. The greatest impact of Chained CPI would fall on the oldest, eventually resulting in a cut of one full month’s benefit annually.  This dramatic benefit cut would push thousands more into poverty and result in increased economic hardship for those trying desperately to keep up with rising prices.”

AARP is a nonprofit, nonpartisan organization, with a membership of more than 37 million, that helps people 50+ have independence, choice and control in ways that are beneficial to them and society as a whole. AARP does not endorse candidates for public office or make contributions to either political campaigns or candidates. We produce AARP The Magazine, the definitive voice for Americans 50+ and the world's largest-circulation magazine; AARP Bulletin, the go-to news source for the 50+ audience; AARP VIVA, a bilingual lifestyle multimedia platform addressing the interests and needs of Hispanic Americans; and national television and radio programming including My Generation and Inside E Street. The AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors. AARP has staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Learn more at www.aarp.org.


###

Search Press Center

MEDIA CONTACTS

If you are an AARP member and not with the press, call 1-888-OUR-AARP or email member@aarp.org.

 

For media inquiries, please contact the AARP Media Relations Office at (202) 434-2560 or media@aarp.org.

 

Facebook: AARP Media Relations

Twitter: @aarpmedia

Discounts & Benefits

From companies that meet the high standards of service and quality set by AARP.

 

denny's restaurant member discount membership

Members save 15% all day, every day when dining at participating Denny's restaurants.

 

regal theater member benefit aarp

Members pay $8 for Regal ePremiere tickets purchased online. Conditions apply.

 

AARP Real Pad Tablet

Go Mobile with RealPad. Connect, play and share plus free 24/7 live customer support.

 

Member Benefits

Join or renew today! Members receive exclusive member benefits & affect social change.