This forum post is hidden because you have chosen to ignore afisher. Show Details
This forum post is hidden because you have submitted an abuse report against it. Show Details
Yesterday, the House GOP approved their version of the Farm Bill. They eliminated the entirety of tunding for food stamps and true to form - continued to subsidize big agra and other subizided TBTF groups. And nary a mention of it here.
Today the House sub-committee on social security reform announced that they want to used a drastic version of CPI for calculating Social Security Benefits. Most RW here smiled and nodded when all of this was talked about in 2012 - because their candidates said it would only affect future retirees. But that was then and NOW IS NOW. The subcommittee has decided that current seniors should also be targeted and have their compensation reduced.
.Cutting benefits by adopting the chained CPI would cut the COLA by 3% for workers retired for ten years and 6% for workers retired for twenty years. This cut targets both current and future retirees. Three years after enactment, this translates to a benefit cut of $130 per year in Social Security benefits for a typical 65 year-old. Thecumulative cut for that individual would be $4,631 or more than three months of benefits by age 75. While supporters claim the chained CPI is more accurate; you have to ask yourself, if this chained CPI really is more accurate, then why the need to offer an incremental benefit “bump” to some beneficiaries? The answer is simple. The chained CPI does not accurately measure these groups’ expenses; in fact, it makes most of the same errors as the current formula and adds a few. Adoption of this new formula is really about cutting benefits and raising taxes on average Americans to reduce the deficit.
Don't ever try and say you weren't warned!