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What You Need to Know About the Chained CPI

Here's how the budget proposal now being considered by Congress and the president could cut the value of your Social Security benefits

Most everyone has heard of the Consumer Price Index, or CPI. It's used to make the annual cost-of-living adjustments in Social Security and other federal programs that help millions of seniors keep up with inflation. But do you know about the chained CPI?

See also: Chained CPI Calculator: How much would your benefit be cut?

In this AARP whiteboard video, David Certner, AARP director of legislative policy, explains why a proposal that some politicians in Washington are pushing to cut federal spending may seem like a little thing, but in truth it could have a big impact on Social Security and veterans benefits.

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