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Social Security, the Fiscal Cliff and the Chained CPI

Proposals to reduce benefits will harm today's retirees

En Español| Using the chained consumer price index (CCPI) to determine seniors' Social Security benefits will take an estimated $127 billion out of the pockets of current and future retirees in the next 10 years alone.

In a Nov. 8 letter to Congress, AARP adds that Social Security is not the cause of the nation's large budget deficits, explaining that Social Security is a self-financed, off-budget program and any reduction in it does nothing to address the shortfall in the rest of the federal budget.

Download the fact sheet and watch the video below to learn more about the CCPI and how Social Security is being discussed during the current budget debate.

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