On April 10, President Obama presented his 2014 budget to Congress and the American people.
I am pleased that the president’s budget reflects his understanding that our country’s greatest challenge is creating jobs. That’s why his budget invests in our economy by supporting important priorities like research and development, education, and infrastructure.
But while I appreciate President Obama’s efforts to invest in our economy, I am disappointed that in his effort to find common ground with Republicans he has included their unfair proposals to make huge cuts to our nation’s social safety net. Especially glaring is the President’s inclusion of the Republican plan to cut Social Security benefits by switching to the so-called “chained-CPI” method of adjusting benefits to keep pace with inflation. This misguided and unfair switch would actually reduce cost of living adjustments for seniors, persons with disabilities, and our veterans.
“Chained-CPI” is an inaccurate measure of inflation for Social Security beneficiaries that would result in benefit cuts. Social Security has not contributed to our deficit and benefits should not be cut in the name of deficit reduction, particularly as fewer employers offer pension plans and private retirement plans have been hit hard by the recession.
I know we can meet the challenge of bringing the deficit in line without harming seniors and veterans by cutting their fixed incomes.
I hope you will let me know how you feel about cutting Social Security benefits through the so called “chained-CPI” by taking my brief survey.
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Lois Capps represents the 24th Congressional District.