Senator Sheldon Whitehouse
@senatorwhitehouse·303K subscribers·2.2K videos
Sen. Whitehouse: Chained CPI would hurt RI'ers on Social Security
Posted
January 31, 2013
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January 31, 2013
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4:14Now PlayingIn a press conference in the U.S. Capitol, Senator Whitehouse joined Senator Sanders, Senator Merkley, AFL-CIO President Richard Trumpka, and others to oppose the use of a "chained CPI" formula for Social Security and veterans' benefits. Currently, cost-of-living adjustments (COLA's) for Social Security are determined by a formula indexed to inflation as dictated by a consumer price index (CPI). The chained CPI would alter that formula in a way that would result in reduced COLA's -- essentially a cut in the long-term benefits that seniors and veterans can expect.
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