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.
Also of Interest
- The chained CPI explained
- 5 reasons the chained CPI is bad for Social Security
- Join AARP: Savings, resources and news coverage
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